SEC suddenly suspends GDLC's listing application, Grayscale says it will still push forward with crypto ETF conversion plan

Odaily News After the U.S. Securities and Exchange Commission (SEC) unexpectedly halted the listing process of Grayscale Digital Large Cap Fund (GDLC), Grayscale said it would still be committed to promoting the fund's conversion into an exchange-traded product (ETP). The fund, which consists of about 80% Bitcoin, 11% Ethereum, and a small amount of SOL, ADA, and XRP, had been approved for accelerated approval. Analysts believe that the SEC's move is intended to establish a unified listing framework for the overall crypto ETF, or to pave the way for subsequent spot ETFs such as SOL and DOGE. (The Block)