- The ETF Store President Nate Geraci stated that Grayscale’s basket ETF, which includes XRP and Cardano, will get the SEC’s approval before the verdict on Solana ETFs.
Nate Geraci’s Optimism for Grayscale Basket ETF
Nate Geraci, President of The ETF Store, recently expressed his optimism about the regulatory approval of Grayscale’s pending “basket” exchange-traded fund (ETF) filing. He stated that he expects the investment product, which includes XRP and Cardano (ADA), to receive the US Securities and Exchange Commission’s (SEC) go signal sooner than spot Solana (SOL) ETFs.
“Sounds like this may be first in line for approval before spot SOL ETFs,” said Geraci in the caption of his post showing the performance of the Grayscale Digital Large Cap Fund (GDLC).
“Includes XRP & Cardano,” he added. “Pretty clear where this is all heading.”
Grayscale Basket ETF
Grayscale’s “basket” ETF, a conversion of the GDLC, notably has its final deadline for the SEC’s decision set on July 2, 2025. The data was based on the latest update of Bloomberg analysts James Seyffart and Eric Balchunas.
The exchange-traded product (ETP) allows investors to gain exposure to the cryptocurrencies President Donald Trump earlier mentioned that would be included in the proposed US digital assets stockpile or treasury reserve. These include Bitcoin (BTC), Ethereum (ETH), XRP, Solana, and Cardano, all packaged into one investment product.
Bitcoin has the largest composition in Grayscale’s basket ETF with a 79.37% weight. It will compete against Bitwise, Hashdex, and Franklin Templeton in the same niche of the market.
Geraci’s statement runs in contrast to the forecast of some analysts that the SEC may give its nod for Solana ETFs earlier than their October 10 deadline. They believe that the verdict will arrive in a few weeks from now. The issuers of these SOL-based ETPs are Grayscale, VanEck, 21Shares, Canady, Bitwise, Franklin Templeton, and Fidelity.
GLDC Conversion Odds of Approval
Previously, Bloomberg’s ETF experts estimated a 90% chance of approval for the pending basket ETF applications under the SEC. They reflected the same level of confidence for Litecoin (LTC) and Solana ETFs.
Geraci’s post on social media suggests that the performance of GLDC in the market may play a huge factor in the SEC’s decision. According to The ETF Store President’s data, Grayscale reported an annualized net asset value (NAV) of 23.91% for the fund since its inception on February 1, 2018. It also displayed a cumulative NAV of 380.90% since its launch over seven years ago.
