U.S. SEC Delays Review of Grayscale Digital Large Cap Fund's ETF Conversion Approval
Doohyun Hwang
Summary
- The SEC announced that it has delayed the review of Grayscale's ETF conversion approval for the 'Digital Large Cap Fund'.
- Grayscale's ETF conversion application includes major digital assets such as Bitcoin and Ethereum.
- Due to the SEC's decision delay, ETF investors are left waiting for the approval outcome.
The U.S. Securities and Exchange Commission (SEC) has delayed the review of the approval for converting the Grayscale Digital Large Cap Fund into an exchange-traded fund (ETF).
According to industry sources on the 31st (local time), the SEC announced that it would extend the period necessary to decide on the approval of the ETF conversion for the Grayscale Digital Large Cap Fund under Section 19(b)(2) of the Securities Exchange Act.
Previously, Grayscale had applied for the conversion of the 'Digital Large Cap Fund', which includes major digital assets such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Avalanche (AVAX), into an ETF.
Doohyun Hwang
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