Grayscale GLDC ETF Conversion Halted Indefinitely
2025-07-02 21:18:21
Main Idea
The SEC approved Grayscale's GLDC ETF conversion but has halted the process indefinitely, delaying the transition of the $755 million digital asset fund.
Key Points
1. The SEC approved the conversion of Grayscale’s Digital Large Cap Fund (GLDC) into an ETF.
2. The $755 million fund holds bitcoin (BTC), ether (ETH), solana (SOL), XRP, and ADA.
3. The conversion has been halted indefinitely, with no immediate timeline for resumption.
4. The fund is the first of its kind to receive SEC approval but faces delays due to regulatory processes.
Description
The U.S. Securities and Exchange Commission (SEC) approved the conversion of Grayscale’s Digital Large Cap Fund (GLDC) into an exchange-traded fund (ETF) on Tuesday, but further details have emerged suggesting the conversion won’t happen right away. The $755 million fund, launched in 2018, holds bitcoin ( BTC), ether ( ETH), solana ( SOL), XRP, and
Latest News
- Bitstamp Launches Staking for Ethereum and Cardano for UK Customers2025-07-04 04:20:50
- Jack Dorsey’s Block to Roll out Bitcoin Lightning Payments on Square2025-07-04 04:20:15
- HTX Research: A Fresh Look at Bitcoin Amidst Macro Changes, Featuring HTX’s New Compliant Stablecoin Offerings2025-07-04 04:20:07
- Bitlayer Teams up With Major Bitcoin Mining Pools to Achieve ‘First’ BitVM Implementation2025-07-04 04:20:03
- QCP Insights: Market Eyes Bitcoin 2025 Conference as Volatility Remains Elevated2025-07-04 04:19:43