Grayscale CoinDesk Crypto 5 ETF is a passive exchange-traded fund that provides investors with exposure to five large-cap digital assets through traditional brokerage accounts. The fund trades on NYSE Arca and tracks the CoinDesk 5 Index, a market-cap-weighted benchmark composed of Bitcoin, Ether, BNB, XRP, and Solana. The fund enables investors to gain crypto exposure without holding, transferring, or self-custodying tokens, utilizing Coinbase Custody to store the underlying assets in cold storage. Managed by Grayscale Investments, the portfolio rebalances quarterly to maintain alignment with the index, excluding stablecoins, wrapped tokens, memecoins, and assets classified as securities. The business model is strictly fee-based, with revenue generated through an annual management fee charged against net asset value. This fee funds all recurring operational costs, including custody, listing, and administration. The fund earns no yield from staking or lending assets, and relies on authorized participants to facilitate cash-settled share creations and redemptions.