Recent SEC filings provide detailed disclosures on the Fund's portfolio composition, valuation methodologies, financial results, and operational details through mid-2026. No recent news coverage is available.

• The Fund commenced a redemption program on September 18, 2025, coinciding with its listing on NYSE Arca on September 19, 2025, allowing Authorized Participants to redeem shares in Baskets [S2].
• As of March 31, 2026, the Fund's net assets decreased to approximately $379 million, a 51% decline over nine months, driven by net realized and unrealized losses on digital assets totaling about $192.7 million [S2].
• The Fund's NAV per share was approximately $31.12 as of March 31, 2026, down from $38.22 as of March 31, 2025, reflecting depreciation in Fund Components [S2].
• The Fund holds minimal cash, using it only to facilitate creations and redemptions, with the Manager assuming most expenses except the Manager's Fee [S2].
• The Fund's portfolio includes Bitcoin, Ether, BNB, XRP, SOL, and ADA, with portfolio adjustments made according to the CD5 Methodology effective June 5, 2025 [S1][S2].

The Fund offers investors a straightforward way to gain diversified exposure to leading digital assets through a regulated and transparent vehicle. Its methodology and portfolio adjustments are clearly defined, supporting investor understanding and trust. The Fund's listing on a major exchange enhances liquidity and accessibility. The Manager's assumption of most expenses except the Manager's Fee may help control costs for investors.

The Fund's value is directly tied to the volatile prices of digital assets, which have shown significant depreciation leading to large net losses and declines in net assets. The Fund lacks traditional revenue streams and operational cash flows, limiting financial flexibility. The absence of leverage and derivatives means it cannot hedge or enhance returns. Market risks inherent in digital assets and regulatory uncertainties pose ongoing challenges.

The Fund's moat lies in its structure as a passive ETF providing cost-effective and convenient exposure to a diversified basket of major digital assets. Its methodology for selecting Fund Components and principal markets for valuation is transparent and governed by established rules. The Fund's listing on NYSE Arca and its redemption and creation mechanisms provide liquidity and accessibility to investors. However, as a passive vehicle, it does not have competitive advantages typical of active management or proprietary technology.

• Digital Asset Price Volatility: The Fund's net asset value and performance are highly sensitive to the price fluctuations of the underlying digital assets, which have experienced significant declines recently.
• Liquidity and Redemption Risks: While the Fund offers redemption programs, large redemptions or market disruptions could impact liquidity and the ability to transact at favorable prices.
• Regulatory and Compliance Risks: The Fund relies on Digital Asset Markets that comply with AML and KYC regulations; changes in regulatory environment could affect operations or valuation.
• Operational Risks: As a passive fund without employees, the Fund depends on the Manager for administration and compliance; any disruptions could affect fund operations.

• Grayscale CoinDesk Crypto 5 ETF (GDLC) is a passive investment fund managed and administered by a Manager without officers, directors, or employees.
• The Fund's investment objective is to reflect the value of its Fund Components, which are digital assets comprising the CoinDesk 5 Index (CD5) as of June 5, 2025.
• The Fund holds digital assets including Bitcoin, Ether, BNB, XRP, SOL, and ADA, with portfolio adjustments made periodically according to defined methodologies (DLCS Methodology prior to July 1, 2025, and CD5 Methodology thereafter).
• Shares of the Fund began trading on NYSE Arca on September 19, 2025, with shares issued in blocks called Baskets (10,000 shares per Basket) to Authorized Participants.
• The Fund does not use leverage, derivatives, or similar arrangements and is not managed as an active investment vehicle or business corporation.
• The Fund's NAV and portfolio valuations are based on Index Prices from principal Digital Asset Markets, selected through a defined process considering volume, price stability, and regulatory compliance.
• The Fund experienced net realized and unrealized losses on digital assets for the nine months ended March 31, 2026, totaling approximately $192.7 million, contributing to a 51% decrease in net assets to about $379 million.
• The Fund's net assets decreased from $603 million at March 31, 2025, to $379 million at March 31, 2026, reflecting price depreciation of Fund Components and net redemptions.
• The Fund holds minimal or no cash balances, using cash only to facilitate creations and redemptions, with the Manager assuming most expenses except the Manager's Fee.
• The Fund's NAV per share was approximately $31.12 as of March 31, 2026, down from $38.22 as of March 31, 2025.
• The Fund's financial figures are summarized from SEC filings and provided for informational purposes only, not as financial advice.