Grayscale CoinDesk Crypto 5 ETF 8-K

What Happened
Grayscale CoinDesk Crypto 5 ETF (GDLC) filed an 8-K on January 26, 2026 reporting that CoinDesk Indices, Inc. (the Index Provider) changed the Constituent Trading Platforms used to calculate the Index Prices for the Fund’s components, effective January 20, 2026. The changes add Binance, Gate, and HashKey for various USD and USDC trading pairs and remove Bitfinex for certain USD pairs. The Fund uses these Index Prices (calculated at 4:00 p.m. New York time daily) to value each fund component for operational purposes.

Key Details

• Effective January 20, 2026, additions: Binance (BTC-USD, BTC-USDC, ETH-USDC, SOL-USDC, XRP-USDC, ADA-USDC), Gate (BTC-USDC, ETH-USDC, SOL-USDC, XRP-USDC, ADA-USDC), HashKey (BTC-USD, ETH-USD, SOL-USD, XRP-USD).
• Removal: Bitfinex removed for BTC-USD, ETH-USD, SOL-USD, XRP-USD and ADA-USD trading pairs after the Index Provider’s monthly review.
• The Index Price is derived from the Constituent Trading Platforms reflected in each component’s CoinDesk Benchmark Rate and is calculated at 4:00 p.m. New York time on each business day.
• Report filed by Grayscale Investments Sponsors, LLC on Jan 26, 2026; signed by Edward McGee, CFO (authorized officer).

Why It Matters
These changes alter the trading venues that feed the index prices used to value the Fund’s crypto components, which can affect the index price and operational valuations (and therefore intraday referencing) without changing the Fund’s holdings or investment objective. The Index Provider conducts regular reviews and may add or remove venues at any time, so investors should note that the data sources behind index pricing can change and may slightly impact reported prices or NAV calculations.