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
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