SEC Approves New ETF: Crypto Investors Rejoice
2025-07-01 17:46:38
Main Idea
The SEC has approved Grayscale's application to convert its 'Grayscale Digital Large Cap Fund LLC' into a Spot ETF, which includes a basket of cryptocurrencies such as BTC, ETH, XRP, SOL, and ADA, marking a significant market breakthrough.
Key Points
1. Grayscale's ETF application converts the 'Grayscale Digital Large Cap Fund LLC' from a trust to a Spot ETF, now tradable on the stock exchange.
2. The fund's composition includes BTC, ETH, XRP, SOL, and ADA, with BTC and ETH making up 85% of the fund.
3. The approval signals a potential shift in the market, as it includes altcoins like XRP, SOL, and ADA, albeit in smaller percentages.
4. This development could pave the way for independent ETF approvals for other altcoins in the future.
5. The SEC's approval is seen as a significant milestone for cryptocurrency investment products.
Description
The SEC approved a new cryptocurrency basket ETF by Grayscale. The fund includes BTC, ETH, XRP, SOL, and ADA. Continue Reading: SEC Approves New ETF: Crypto Investors Rejoice The post SEC Approves New ETF: Crypto Investors Rejoice appeared first on COINTURK NEWS .
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