SEC Clears Grayscale Digital Large Cap Fund for NYSE Arca ETF Listing
2025-07-02 01:23:22
Main Idea
The SEC has approved the conversion of Grayscale Digital Large Cap Fund into a spot ETF, allowing its listing on NYSE Arca and marking a significant regulatory milestone for digital asset ETFs.
Key Points
1. The SEC approved a rule change enabling Grayscale Digital Large Cap Fund LLC to convert into a spot ETF, listed on NYSE Arca.
2. The fund tracks the Coindesk 5 Index, including bitcoin (80.20%), ether (11.39%), solana (2.78%), XRP (4.82%), and cardano (0.81%).
3. The SEC requires at least 85% of the fund’s assets to consist of cryptocurrencies backing SEC-approved exchange-traded products.
4. The ETF will calculate its net asset value daily at 4:00 p.m. ET using Coindesk data by authorized participants.
Description
The SEC has approved NYSE Arca’s listing of a Grayscale large-cap fund holding bitcoin, ether, solana, XRP, and cardano, expanding regulated access to leading digital assets. SEC Approves Rule Change for Grayscale Crypto Fund Listing on NYSE Arca The U.S. Securities and Exchange Commission (SEC) on July 1 approved a rule change enabling the conversion
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