Key Takeaways
- The SEC has acknowledged Grayscale’s amended submitting to transform its giant cap fund right into a spot crypto ETF.
- The proposed ETF will monitor main cryptocurrencies together with BTC, ETH, XRP, SOL, and ADA.
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The US SEC has till Wednesday, July 2, to rule on Grayscale’s request to transform its Digital Massive Cap Fund (GDLC) right into a spot exchange-traded product (ETF), Bloomberg ETF analysts beforehand famous.
Grayscale’s GDLC fund is designed to trace a mixture of 5 main crypto belongings, with the majority in Bitcoin (80.8%) and the remaining unfold throughout Ethereum (11.07%), XRP (4.63%), Solana (2.75%), and Cardano (0.75%).
As of June 27, the fund had almost $762 million in belongings beneath administration, based on an replace on Grayscale’s web site.
Grayscale’s revised S-3 submitting to transform GDLC right into a spot ETF was acknowledged by the SEC on Monday.
The acknowledgment comes amid elevated exercise within the crypto ETF area, with the SEC presently evaluating a number of spot crypto functions from main monetary establishments. The submitting represents Grayscale’s newest effort to broaden its crypto funding choices past its flagship Bitcoin and Ethereum belief merchandise.
In keeping with ETF Retailer President Nate Geraci, the modification displays the SEC’s ongoing engagement with Grayscale concerning its proposed conversion of the GDLC fund.
Last SEC deadline this week on Grayscale Digital Massive Cap ETF (GDLC)…
Holds btc, eth, xrp, sol, & ada.
Assume *excessive chance* that is permitted.
Would then be adopted later by approval for particular person spot ETFs on xrp, sol, ada, and so forth.
— Nate Geraci (@NateGeraci) June 29, 2025
Geraci believes there’s a powerful probability the SEC will greenlight the applying. If GDLC is permitted, it might pave the way in which for single-asset spot ETFs tied to XRP, Solana, Cardano, and others, that are topic to a extra in depth evaluate timeline.
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