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Jul 2, 2025
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SEC Reviews Approval of Grayscale Digital Large Cap Fund ETF

1 min

The U.S. Securities and Exchange Commission (SEC) is reviewing its recent approval of Grayscale's Digital Large Cap Fund (GDLC) conversion into an exchange-traded fund (ETF). Key points include:

  • Grayscale's GDLC holds $755 million in various cryptocurrencies including bitcoin, Ethereum, XRP, Solana, and Cardano.
  • The SEC allowed the uplisting through delegated authority, meaning staff approved it without a commission vote.
  • A letter dated July 1 states that any commissioner may request a review of this action, and the order is currently stayed until further notice from the SEC.
  • GDLC is benchmarked to CoinDesk's CoinDesk 5 Index.