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GDLC vs TXBC

Grayscale CoinDesk Crypto 5 ETF

GDLCANYSE Arca

21Shares FTSE Crypto 10 ex-BTC Index ETF

TXBCCNYSE Arca

Overlap

Expense ratio

GDLC −0.75pt a year

GDLC0.59%TXBC1.34%

Avg volume · 30D

GDLC 20.0×the volume

GDLC35.8KTXBC1.79K

GDLC vs TXBC Performance

Dec 31, 2025 – Nov 2, 2026

−16.7%GDLC−23.6%TXBC

Dec 31, 2025 to Nov 2, 2026. GDLC −16.7%. TXBC −23.6%. Use the arrow keys to read each point.−40%−30%−10%0%10%Dec 2025Jun 2026Nov 2026
Expense ratio
GDLC 0.59%, better
TXBC 1.34%
Fund size
GDLC $390M
TXBC $1M
1Y total return
GDLC −34.9%
TXBC No data
Holdings
GDLC 5
TXBC 11
Avg volume (30D)
GDLC 35.8K sh, better
TXBC 1.79K sh
NAV per share
GDLC $34.58
TXBC $15.75
52W range

ETF.net Grade

GDLC: Cost 58, Risk 35, Mission 100, Tradability 77, Holdings not scored, Durability 75. TXBC: Cost 14, Risk 33, Mission 100, Tradability 17, Holdings 64, Durability 40.
Pillar letters and Scores for GDLC, TXBC, with each pillar’s weight
PillarGDLCTXBC
Cost30% weightB58HigherF14
Mission25% weightA100A100
Risk15% weightD35HigherD33
Tradability15% weightA77HigherF17
Holdings10% weightNot scoredB64
Durability5% weightA75HigherC40

Rank among Spot Crypto Basket funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. GDLC and TXBC are both graded against the same 10 Spot Crypto Basket funds, so their Grades compare head to head.

Spot Crypto Basket⁠

Category · 10 funds
See all 10 ›

GDLC ranks 3rd and TXBC 8th of 10 funds in the Spot Crypto Basket Category.

  1. Rank 1AEZPZFranklin Crypto Index ETFScore 75
  2. Rank 2ANCIQHashdex Nasdaq Crypto Index US ETFScore 71
  3. Rank 3AGDLCGrayscale CoinDesk Crypto 5 ETFScore 70
  4. Rank 4BBITWBitwise 10 Crypto Index ETFScore 62
  5. Rank 8CTTOP21Shares FTSE Crypto 10 Index ETFScore 40
  6. Rank 8CTXBC21Shares FTSE Crypto 10 ex-BTC Index ETFScore 40

Our read on each fund

ETF.net Research

GDLCAGrayscale CoinDesk Crypto 5 ETF

TXBCC21Shares FTSE Crypto 10 ex-BTC Index ETF

In short

GDLC One ticker, five large liquid coins, market-cap weighted by the CoinDesk 5 Index. Grayscale's 2018-vintage basket predates the spot-crypto ETF crowd, and its fee now sits right at the middle of that pack.

TXBC Most crypto baskets are really a bitcoin fund with sprinkles. TXBC removes bitcoin outright and tracks FTSE's next 10 coins by market cap, in a 1940 Act ETF wrapper crypto rarely gets. Fee: 1.34%, no waiver.

Stated mandate

GDLC The fund provides exposure to the market-cap-weighted performance of five large, liquid crypto assets, offering diversified access to the cryptocurrency market.

TXBC The Fund seeks to track the price performance of the FTSE Crypto 10 ex Bitcoin Select Index before fees and expenses. It uses a passive indexing strategy and does not seek to outperform the Index.

Why people hold it

  • GDLC Five large, liquid coins in a single market-cap-weighted basket tracking the CoinDesk 5 Index. No exchange accounts, no wallets, no seed phrases.
  • At 0.59% a year it lands at the median for multi-coin baskets, and far under the 2.50% Bitwise charges on BITW.
  • Running since 2018, one of the longest histories among multi-coin crypto funds, and it stands in the upper half of that group.
  • The mandate is literal: hold the index's five names at market-cap weight. No manager hunting the next winner.
  • TXBC The whole point is the subtraction: it tracks the FTSE Crypto 10 ex Bitcoin Select Index, so ether and the rest of the field set the pace instead of trailing behind BTC's gravity.21shares.com
  • One of the first crypto index ETFs to launch under the Investment Company Act of 1940, the framework behind conventional ETFs rather than the commodity-trust route.cbs42.com
  • A literal mandate: 21Shares states it tracks the index and does not seek to outperform it. No manager hand-picking tokens, no drift from what the name promises.21shares.com

Worth knowing

  • GDLC Trades lightly for its category, so spreads can run wider than the headline crypto funds. Limit orders earn their keep here.
  • Five coins at market-cap weight means the largest one carries most of the load. This is concentrated crypto exposure, and it moves like it.
  • Cheaper doors to the same basket idea exist: EZPZ at 0.00% and NCIQ at 0.25%. And there is no income here, only coin prices.
  • TXBC At 1.34% with no fee waiver in place, it sits above the typical cost in its peer group: Franklin's EZPZ charges 0.19%, Grayscale's GDLC 0.59%, Bitwise's BITW 0.75%.
  • Small and thinly traded next to the category's heavyweights, so spreads and limit orders carry more weight here.
  • Exposure comes through crypto ETPs and derivatives rather than coins held directly, and the fund is non-diversified with no distributions paid.

Full GDLC profile⁠

Full TXBC profile⁠

GDLC vs TXBC Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

GDLC vs TXBC Cost

Overpaying TXBC vs GDLC

$12,330

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • GDLC 0.59%

    $11,635

  • TXBC 1.34%

    $23,965

$10,000
30 years

Cost over time

  • GDLC 0.59%
  • TXBC 1.34%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530TXBC $23,965GDLC $11,635

Year by year

YearGDLCTXBCOverpaying
10$1,058$2,329$1,271
20$4,051$8,621$4,570
30$11,635$23,965$12,330

Expense ratio

  • 0.59%GDLC, cheaper
  • 1.34%TXBC
  • Middle half of Spot Crypto Basket funds
  • Median 0.67%

GDLC 5th cheapest of 10 funds

TXBC 9th cheapest of 10 funds

GDLC vs TXBC Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
GDLC None
TXBC None

Distribution history

GDLCAll GDLC payments⁠

No distribution history available.

TXBCAll TXBC payments⁠

No distribution history available.

GDLC vs TXBC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
GDLC 70.1%TXBC No data
Return per unit of riskSharpe ratio, 3 years
GDLC 0.73TXBC No data
Worst fallMax drawdown, 5 years
GDLC −88.7%TXBC No data
Market sensitivityBeta, 5 years
GDLC 2.38TXBC 0.56

GDLC and TXBC in the news

All news⁠

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