Grayscale CoinDesk Crypto 5 ETF filed its Form 10-Q for the quarterly period ended September 30, 2026, with NYSE Arca:GDLC, disclosing net assets of $437,855 thousand and a net increase in net assets from operations of $140,477 thousand for the three months ended September 30, 2026.

Key Highlights

  • Net assets: The fund reported net assets of $437,855 thousand as of September 30, 2026, up from $308,960 thousand at June 30, 2026, according to the filing.
  • Shares outstanding: 11,397,400 shares were outstanding as of September 30, 2026, with 11,147,400 shares outstanding as of November 6, 2026, as reported on the cover page.
  • NAV per share: The Principal Market NAV per Share was $38.42 at September 30, 2026, compared with $26.37 at June 30, 2026.
  • Operations result: The fund disclosed a net increase in net assets resulting from operations of $140,477 thousand for the three months ended September 30, 2026.
  • Largest holding: Bitcoin represented 74.12% of net assets at September 30, 2026, with a fair value of $324,528 thousand.
  • Manager's Fee: Expenses for the three months ended September 30, 2026 consisted entirely of the Manager's Fee, related party, totaling $557 thousand.

Portfolio Composition and Financial Results for the September 2026 Quarter

According to the filing, the Grayscale CoinDesk Crypto 5 ETF holds the top digital assets by market capitalization that meet criteria set by the fund, tracking the CoinDesk 5 Index. As of September 30, 2026, the fund's portfolio consisted of Bitcoin, Ether, BNB, XRP, and Solana (SOL). Bitcoin was the dominant position at a fair value of $324,528 thousand, representing 74.12% of net assets, followed by Ether at $62,349 thousand (14.24%), BNB at $19,729 thousand (4.50%), XRP at $18,023 thousand (4.12%), and SOL at $13,226 thousand (3.02%).

The filing disclosed that total investments at fair value were $437,855 thousand at September 30, 2026, against a cost basis of $182,106 thousand. The fund reported a net change in unrealized appreciation of $134,347 thousand for the quarter, and net realized gain of $6,687 thousand, resulting in combined net realized and unrealized gain of $141,034 thousand. Net investment loss for the period was $(557) thousand, reflecting the Manager's Fee as the sole expense category. Net assets at the beginning of the period were $308,960 thousand and ended at $437,855 thousand, the filing stated.

The filing also noted that shares redeemed during the three months ended September 30, 2026 totaled 320,000, with no shares issued during the period. Capital share transactions resulted in a net decrease in net assets of $11,582 thousand. The fund's shares are listed on NYSE Arca under the symbol "GDLC" and have traded there since September 19, 2025, according to the filing. Shares are issued only in baskets of 10,000 to authorized participants in exchange for fund components.

What Was Disclosed

The fund disclosed its unaudited financial statements for the quarter ended September 30, 2026, covering net assets, portfolio holdings across five digital assets, operating results, share activity, and the Manager's Fee as the sole expense. Net assets grew to $437,855 thousand from $308,960 thousand at the prior period end.