Grayscale ‘remains committed’ to pursuing crypto ETF conversion after SEC halt

币界网报道:Following the SEC’s decision to suspend Grayscale Digital Large Cap Fund LLC, a spokesperson for the company said it “remains committed” to continuing its attempt to list. “While this development was unexpected, it reflects the dynamic and evolving nature of the regulatory environment surrounding first-of-its-kind digital asset products like GDLC,” a spokesperson said in an emailed statement. “Grayscale remains committed to seeking to list GDLC as an ETP, and we are working closely with key stakeholders to meet all necessary requirements.” Earlier this week, the SEC approved Grayscale’s proposal to convert another of its closed-end funds into an ETF on an “accelerated basis.” The fund, which trades over-the-counter and is available to accredited investors, is primarily comprised of Bitcoin, which accounts for nearly 80%, and Ethereum, which accounts for about 11%. Solana, Cardano, and XRP are also present in single-digit percentages, according to its website. The agency suspended the fund a day after approving it. In a letter sent to the New York Stock Exchange about the fund, SEC Deputy Secretary J. Matthew DeLesDernier said the agency’s Division of Trading and Markets approved the application but said the commission would review it. Meanwhile, the SEC is considering a variety of cryptocurrency ETFs, from those tracking SOL to DOGE, amid a friendlier regulatory environment for cryptocurrencies following President Donald Trump’s inauguration in January. Some say approval of the Grayscale Digital Large Cap ETF could mean those ETFs could get the green light, too. “See where this is all going? Next up is an individual spot XRP, SOL, ADA, etc. ETF,” Nate Geraci, president of NovaDius Wealth Management, said in an article on X on Tuesday. “I actually think this is very positive,” Geraci said Thursday, noting the delay “is simply the SEC’s desire to develop a formal listing framework/standards for crypto ETFs. Once that happens, the floodgates will open.”

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