Grayscale presses ahead after SEC suspends conversion of its cryptocurrency ETF
2025-07-03 21:46:14
The Securities Exchange Commission (SEC) has decided to suspend the listing of Grayscale Digital Large Cap Fund LLC a day after approving the conversion of the fund into an exchange-traded product (ETP). A Grayscale spokesperson responded that the company remains committed to the listing of the fund and is working closely with key stakeholders to meet relevant requirements. The fund's assets are about 80% bitcoin and 11% Ethereum, and also include Solana, Cardano and XRP. The suspension is interpreted as the SEC is formulating a more complete framework for the listing of crypto ETFs. Analysts pointed out that once the rules are clear, more single spot crypto ETFs (such as XRP, SOL, ADA, etc.) may be approved.
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