Key Takeaways
- The SEC approved Grayscale’s conversion of its large-cap crypto fund into a spot ETF.
- The ETF will include Bitcoin, Ethereum, XRP, Solana, and Cardano, expanding regulated crypto products for US investors.
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The US Securities and Exchange Commission has approved the listing and trading of Grayscale’s Digital Large Cap Fund (GDLC) as a spot exchange-traded fund (ETF) on NYSE Arca, according to a newly published order granting accelerated approval on July 1, first shared by Phoenix News.
The decision follows Grayscale’s submission of an amended S-3 filing to the SEC just yesterday, which was seen as evidence of active dialogue between the issuer and the regulator. ETF Store President Nate Geraci predicted Grayscale’s bid would be successful.
The acknowledgment comes amid increased activity in the crypto ETF space, with the SEC currently evaluating multiple spot crypto applications from major financial institutions. The filing represents Grayscale’s latest effort to expand its crypto investment offerings beyond its flagship Bitcoin and Ethereum trust products.
This is a developing story. Please come back for further updates.
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