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The U.S. Securities and Exchange Commission (SEC) has “expedited” the conversion of Grayscale’s digital asset mix investment fund into an exchange-traded fund (ETF), a decision that could generate positive momentum for similar filings in the cryptocurrency market.
In a regulatory filing released today, the SEC approved the rule change regarding the conversion of Grayscale Digital Large Cap Fund LLC. “Pursuant to Section 19(b)(2) of the Exchange Act, the proposed rule change (SR-NYSEARCA-2024-87), as amended by Amendment No. 1, is hereby approved on an expedited basis,” the decision reads.
The fund, currently available over-the-counter (OTC) only to accredited investors, consists of approximately 80% Bitcoin, 11% Ethereum, and single-digit percentages of Solana (SOL), Cardano (ADA), and XRP.