SEC Confirms
Grayscale s
Application to Convert Digital Large
Cap Fund into
ETF
Two weeks after Grayscale submitted its application to convert the Grayscale
Digital Large Cap Fund (GDLC) into an ETF, the Securities and Exchange
Commission (SEC) confirmed the filing.
Grayscale now faces a wait of several more months for feedback from the SEC.
Grayscale Nears Launch of Multi-Asset Crypto ETF
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On October 29, the SEC acknowledged the application to convert the Digital
Large Cap Fund (GDLC) into an ETF. The GDLC manages assets like Solana and
XRP, which the SEC classifies as securities .
This confirmation brings Grayscale closer to launching the first multi-asset
crypto ETF. According to the SEC , a decision on the application will come
within 45 to 90 days.
Meanwhile, the US will determine its new president in less than a week. A
Trump victory could lead to significant changes, including the potential
replacement of SEC Chairman Gary Gensler . Industry experts believe that if
Trump wins, altcoin-related ETFs could receive approval more easily.
Trump winning makes the path to a SOL ETF much easier and perhaps a
more friendly SEC that doesn t classify everything a security ,
Mert, CEO of Helius Lab, commented .
Two weeks ago, when Grayscale filed the application to convert GDLC into an
ETF, the fund traded at a significant discount of over 30%. This discount has
now narrowed to 17%. The narrowing discount indicates investor optimism about
the potential approval of the GDLC ETF. GDLC Share Performance Chart. Source:
Grayscale
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As reported by BeInCrypto, on October 15, Grayscale filed a Form 19b-4 with
the SEC , requesting the conversion of the Grayscale Digital Large Cap Fund
(GDLC) into a new ETF.
The Grayscale Digital Large Cap Fund (GDLC) allows investors to gain exposure
to leading cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта such as Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin), Ethereum (ETH• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum), Solana
(SOL), XRP, and Avalanche (AVAX). Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin and Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum make up 94% of the
fund, which currently manages over $558 million in assets.
Read more: How To Trade a Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin ETF: A Step-by-Step Approach
Additionally, VanEck, 21Shares , and Canary Capital have filed several
applications to list other spot ETFs related to assets such as Solana, XRP,
and Litecoin.
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