Grayscale ETF Conversion Frozen by SEC After Brief Approval

Grayscale ETF Conversion Frozen by SEC After Brief Approval

The SEC has stayed its own approval of Grayscale’s ETF conversion just a day after greenlighting the move, triggering an indefinite review.

XRP, Solana, Cardano On Ice—SEC Freezes Grayscale GDLC ETF Debut - Coin Surges

The US Securities and Exchange Commission has abruptly halted the conversion of Grayscale Investments’ Digital Large Cap Fund (GDLC), which contains XRP, Solana and Cardano besides BTC and ETH, into an exchange-traded fund, less than twenty-four hours after agency staff had granted the necessary rule change. In a one-page letter dated 1 July, Deputy Secretary J. Matthew DeLesDernier informed the New York Stock Exchange that, “pursuant to Rule 43…

SEC Freezes Grayscale GDLC ETF Approval One Day After Green Light

SEC pauses Grayscale GDLC ETF approval just one day after green light and triggers an automatic stay. Unclear legal status of altcoins like XRP and Solana may have delayed the multi-asset ETF launch. SEC may be working on a new crypto ETF rule before allowing mixed asset funds to enter the market. The U.S. Securities and Exchange Commission has paused the approval of Grayscale’s Digital Large Cap Fund ETF. The decision came just one day after th…

Grayscale ETF Faces Indefinite Delay as SEC Reassesses Earlier Approval

It only took one day for the US Securities and Exchange Commission (SEC) to walk back on an approval given to Grayscale Digital Large Cap Fund (GDLC) to convert to an exchange-traded fund (ETF), inadvertently halting its launch. On 1 July 2025, the SEC shared a letter stating its intention to again review the recent approval granted to GDLC to convert its fund into an ETF. The SEC’s approval of the Grayscale ETF had been welcomed as a landmark d…

Altcoin ETF Basket by Grayscale Delayed in Controversial SEC Move

The U.S. Securities and Exchange Commission (SEC) has hit pause on Grayscale Investments’ application to convert its Digital Large Cap Fund (GDLC) into a spot exchange-traded fund, only a day after greenlighting it. The abrupt stay has thrown cold water on immediate trading plans and created some uncertainty about the anticipated expansion of crypto-based exchange-traded products. First Approval, Then Sudden Stop Acting under delegated authority…