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Grayscale CoinDesk Crypto 5 ETF

For the period ended Dec 31, 2025. Filed Feb 5, 2026.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Dec 31, 2025 · Filed Feb 5, 2026

GDLC$34.05-0.6%Stored close · as of Nov 6, 2026
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H

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 31,2025

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ______ to ______

Commission File Number 001-42855

Grayscale CoinDesk Crypto 5 ETF

MANAGED BY GRAYSCALE INVESTMENTS SPONSORS, LLC

(Exact Name of Registrant as Specified in Its Charter)

Cayman Islands98-1406784
(State or Other Jurisdiction ofIncorporation or Organization)(I.R.S. EmployerIdentification No.)

c/o Grayscale Investments Sponsors, LLC

290 Harbor Drive, 4 th Floor

Stamford, Connecticut 06902

(Address of Principal Executive Offices) (Zip Code)

(212)668-1427

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Grayscale CoinDesk Crypto 5 ETF SharesGDLCNYSE Arca, Inc.

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☒
Non-accelerated filer☐Smaller reporting company☒
Emerging growth company☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☒

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒

Number of Shares of the registrant outstanding as of February 2, 2026:12,237,400

Grayscale® COINDESK CRYPTO 5 ETF

Table of Contents

Page
Forward-Looking Statements3
Industry and Market Data3
PART I – FINANCIAL INFORMATION
Item 1.Financial Statements (Unaudited)4
Statements of Assets and Liabilities at December 31, 2025 and June 30, 20254
Schedules of Investments at December 31, 2025 and June 30, 20255
Statements of Operations for the Three and Six Months Ended December 31, 2025 and 20246
Statements of Changes in Net Assets for the Three and Six Months Ended December 31, 2025 and 20247
Statement of Cash Flows for the Six Months Ended December 31, 20258
Notes to the Unaudited Financial Statements9
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations26
Item 3.Quantitative and Qualitative Disclosures about Market Risk42
Item 4.Controls and Procedures42
PART II – OTHER INFORMATION
Item 1.Legal Proceedings43
Item 1A.Risk Factors43
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds44
Item 3.Defaults Upon Senior Securities44
Item 4.Mine Safety Disclosures44
Item 5.Other Information44
Item 6.Exhibits45
GLOSSARY OF DEFINED TERMS46
SIGNATURES53
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.