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SEC Suspends GDLC Listing Application Abruptly, Grayscale Plans to Proceed with Crypto ETF Conversion
Summary: In a surprising move, the U.S. Securities and Exchange Commission (SEC) has halted the listing process of the Grayscale Digital Large Cap Fund (GDLC). Grayscale has stated that they will continue to work towards converting the fund into an Exchange-Traded Product (ETP). The fund consists of approximately 80% Bitcoin, 11% Ethereum, and small amounts of ...
In a surprising move, the U.S. Securities and Exchange Commission (SEC) has halted the listing process of the Grayscale Digital Large Cap Fund (GDLC). Grayscale has stated that they will continue to work towards converting the fund into an Exchange-Traded Product (ETP). The fund consists of approximately 80% Bitcoin, 11% Ethereum, and small amounts of SOL, ADA, and XRP, and had already received accelerated approval. Analysts believe that the SEC's action is aimed at establishing a unified listing framework for overall crypto ETFs, potentially paving the way for future spot ETFs like SOL and DOGE. (The Block)
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Link: SEC Suspends GDLC Listing Application Abruptly, Grayscale Plans to Proceed with Crypto ETF Conversion [Copy]
