XRP, Solana, Cardano Multi-Asset ETF Approval Highly Likely This Week: Expert
2025-06-30 11:05:14
Main Idea
The SEC is likely to approve Grayscale Investments' bid to convert its $760 million Digital Large Cap Fund (GDLC) into an ETF, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano, with a decision deadline set for July 2.
Key Points
1. Grayscale's GDLC holds 80.8% Bitcoin, 11.1% Ether, and 8.1% combined XRP, Solana, and Cardano, making it a low-risk sandbox for the SEC.
2. Analysts predict a high likelihood of approval due to the small proportion of non-Bitcoin and non-Ether assets in the fund.
3. Approval would make GDLC the first US spot ETF to offer regulated exposure to XRP, Solana, and Cardano, albeit in modest proportions.
4. The SEC's decision could provide real-time surveillance data to inform future approvals of standalone XRP, SOL, and ADA funds.
5. Bloomberg Intelligence analysts have raised their approval probability for most single-asset altcoin ETFs to 90%, citing progress in regulatory clarity.
Description
The US Securities and Exchange Commission (SEC) enters the final stretch of its review of Grayscale Investments’ bid to convert the $760 million Digital Large Cap Fund (GDLC)—which includes Bitcoin, Ethereum, XRP, Solana and Cardano—into an exchange-traded fund, with the statutory deadline set for July 2. ETF Store president Nate Geraci told his followers on X in the early hours of Monday that there is a “high likelihood” the conversion will be cleared, adding that approval would “then be follow...
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