SEC halts Grayscale crypto fund ETF conversion application

Odaily News The U.S. Securities and Exchange Commission (SEC) announced the suspension of Grayscale's plan to convert its Digital Large Cap Fund into an ETF, after the application had been preliminarily approved by the SEC's Division of Trading and Markets. In a letter to the New York Stock Exchange, the SEC stated that it would conduct a comprehensive review of the decision and the relevant order would be suspended until further notice. The fund's main holdings include approximately 80% Bitcoin and 11% Ethereum, and also include assets such as Solana, Cardano and XRP. The SEC is still reviewing a number of crypto ETF proposals, including products that track SOL, XRP and DOGE. (The Block)