An ETF based on Bitcoin and 4 altcoins will be listed on the stock exchange tomorrow.

Grayscale's Bitcoin and altcoin basket ETF will begin trading on the NYSE tomorrow. The fund, which is worth approximately $1 billion, is eagerly anticipated to see how it will perform on its first day of trading.

Grayscale, one of the largest investment companies in the crypto sector, is launching its spot exchange-traded fund (ETF) called the “Grayscale CoinDesk Crypto 5 ETF” tomorrow.

The ETF includes Bitcoin, Ethereum, XRP, Solana, and Cardano, with respective weightings of 72.23%, 17.12%, 5.62%, 4.03%, and 1%. The current value of the assets under the fund's management is close to $1 billion. This figure is expected to increase once the fund begins trading on the New York Stock Exchange (NYSE) tomorrow, with capital inflows into the cryptocurrencies it holds accelerating.

The ETF, which will trade under the ticker symbol GDLC, received approval from the U.S. Securities and Exchange Commission (SEC) yesterday. This approval came after the SEC accepted the general listing rules proposed by Nasdaq, CBOE, and NYSE in a joint application. The newly adopted rules allow ETFs based on commodities, including cryptocurrencies, to be listed without the need for the agency's lengthy approval processes. More cryptocurrency-based ETFs are expected to be launched in the coming days.