A cryptocurrency exchange-traded fund (ETF) has yet to garner regulatory approval, but Grayscale Investments has gotten a green light from FINRA for a publicly-quoted security that derives its value from a basket of digital currencies.

The shares of the Grayscale Digital Large Cap Fund (DLC) will trade under symbol GDLCF on OTC markets, which Grayscale claims is a first in the U.S. The fund is similar to an ETF, with investors gaining exposure to crypto price movements through a diversified basket of large-cap digital currencies, rather than directly buying, storing and safekeeping digital currencies.

DLC is not registered with the Securities and Exchange Commission (SEC), so it is not subject to disclosure or other U.S. securities laws requirements.

The majority of the basket is composed of BTC, taking up 80% of the fund. About 10% is controlled by ETH, and a final 10% is made up of XRP, BCH, and LTC. Fund Components will go to pay for ongoing expenses rather than DLC generating income.

Once shares are DTC eligible, which Grayscale said it expects soon, investors will be able to buy and sell freely-tradable DLC shares through their investment accounts in the same way they would with other unregistered securities. DLC offered private placement to accredited investors since February of 2018. Shares created through private placement become eligible to sell publicly after a one-year holding period, according to the Securities Act.