According to Gate News bot, CoinDesk reports that the SEC has halted Grayscale's Digital Large Cap Fund's plan to convert to an ETF and has entered a further review phase.
The plan has previously been approved by the New York Stock Exchange Arca for a "fast track" rule change proposal, allowing shares of Grayscale Digital Large Cap Fund LLC to be traded. The SEC made a suspension decision on the accelerated approval of the rule change (SR-NYSEARCA-2024-87) (as amended by Amendment No. 1) under Section 19(b)(2) of the Exchange Act.
The fund is currently available for qualified investors in over-the-counter trading, with asset allocation including approximately 80% Bitcoin, about 11% ETH, and single-digit percentages of Solana, Cardano, and XRP.
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The SEC has halted Grayscale's digital large-cap fund ETF conversion plan, which has entered the review stage.
According to Gate News bot, CoinDesk reports that the SEC has halted Grayscale's Digital Large Cap Fund's plan to convert to an ETF and has entered a further review phase.
The plan has previously been approved by the New York Stock Exchange Arca for a "fast track" rule change proposal, allowing shares of Grayscale Digital Large Cap Fund LLC to be traded. The SEC made a suspension decision on the accelerated approval of the rule change (SR-NYSEARCA-2024-87) (as amended by Amendment No. 1) under Section 19(b)(2) of the Exchange Act.
The fund is currently available for qualified investors in over-the-counter trading, with asset allocation including approximately 80% Bitcoin, about 11% ETH, and single-digit percentages of Solana, Cardano, and XRP.