Grayscale Challenges SEC’s Halt on ETF Conversion Proposal
2025-07-12 01:38:19
Main Idea
Grayscale is challenging the SEC's decision to halt the conversion of its Digital Large Cap Fund (GDLC) into an ETF, arguing that the SEC lacks the authority under Section 19b of the Securities Exchange Act.
Key Points
1. Grayscale contests the SEC's pause on converting its GDLC fund into an ETF, claiming the SEC exceeded its authority under Section 19b of the Securities Exchange Act.
2. The SEC initially approved the conversion but halted it the next day, citing the lack of a framework for altcoin ETFs.
3. Grayscale's legal appeal seeks a reassessment of the SEC's decision, which could influence future similar requests.
4. The outcome of the legal proceedings may impact the approval process for other crypto-related ETFs and investor accessibility to crypto assets.
Description
Grayscale disputes SEC's GDLC ETF conversion halt, claiming overreach. The legal challenge could influence future crypto-related proposals. Continue Reading: Grayscale Challenges SEC’s Halt on ETF Conversion Proposal The post Grayscale Challenges SEC’s Halt on ETF Conversion Proposal appeared first on COINTURK NEWS .
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