Grayscale Responds To SEC Decision To Delay GDLC ETF Debut
2025-07-13 00:20:33
Main Idea
Grayscale plans to petition the SEC to lift the stay on its Digital Large Cap Fund (GDLC) ETF listing, following the SEC's decision to delay the approval for further review.
Key Points
1. The SEC delayed the conversion of Grayscale's Digital Large Cap Fund (GDLC), which includes Bitcoin, Ether, XRP, Solana, and Cardano, into an ETF for further review.
2. Grayscale announced it will submit a petition to the SEC requesting the stay on the GDLC listing be lifted, citing harm to investors due to the delay.
3. Bloomberg Intelligence analyst James Seyffart suggested the SEC may be delaying multi-coin ETF approvals until it finalizes a comprehensive digital-asset ETP framework.
4. Grayscale acknowledged the SEC's efforts for regulatory clarity and expressed intent to cooperate with the commission on crypto-related matters.
5. Despite the delay, experts believe the GDLC ETF launch is inevitable, given Grayscale's productive discussions with the SEC.
Description
The legal team of asset management firm Grayscale called out the United States Securities and Exchange Commission (SEC) on its decision to delay the listing of the firm’s Digital Large Cap Fund (GDLC) on the New York Stock Exchange. As Bitcoinist reported earlier, the conversion of GDLC, which contains Bitcoin, Ether, XRP, Solana, and Cardano, into an exchange-traded fund (ETF) was “stayed” indefinitely 24 hours after the SEC’s Division of Trading & Markets approved the fund’s listing. Grayscale...
Latest News
- US Bitcoin ETFs Record Consecutive Billion-Dollar Inflow Days As Price Nears $120K2025-07-13 09:04:49
- Dogecoin Replicates Bullish Wave From Nov. 2024 — Why Price Can Rocket Above $12025-07-13 07:13:06
- Indicted Crypto Founder Seeks Pardon From US President Trump2025-07-13 05:59:14
- Ripple CEO Drops Bomb On Stablecoin Market, Is RLUSD The Savior?2025-07-13 03:11:25
- Grayscale Responds To SEC Decision To Delay GDLC ETF Debut2025-07-13 00:20:33