Grayscale Calls SEC Trading Pause on ETF Holding Solana, XRP 'Unexpected'
2025-07-03 21:25:20
Main Idea
The SEC unexpectedly halted Grayscale's Digital Large Cap Fund release, reflecting a changing regulatory landscape, while a Solana Staking ETF debuted successfully on Wall Street.
Key Points
1. Grayscale called the SEC's decision to halt its Digital Large Cap Fund 'unexpected,' citing a dynamic regulatory environment.
2. The Rex-Osprey Solana + Staking ETF debuted with $12M in investments and $33.6M in trading volume, offering staking yields.
3. Grayscale's GDLC fund, modeled on the CoinDesk 5 Index, includes Bitcoin, Ethereum, Solana, XRP, and Cardano.
4. The SEC has yet to approve ETF applications focused solely on smaller altcoins but signaled openness to funds with established cryptocurrencies.
5. Bitcoin's price fluctuated after a hot jobs report, while Ethereum rose 5.2% to nearly $2,600.
Description
The crypto asset manager attributed the decision to a fast-changing regulatory landscape.
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