The US Securities and Exchange Commission is likely to stop launching the Grayscale Digital Big Cap Fund (GDLC) For administrative reasons, not political ones, many individuals are familiar with the matter said in CoinDesk.
The SEC has approved GDLC in Pag -Plist As a funds exchanged by the exchange (ETF) On Tuesday by the authority of the staff, it meant that the regulator commissioners did not have to vote for the application. However, the regulator is aware of Grayscale and the New York Stock Exchange – partner in the GDLC list – on Wednesday the SEC Commissioners will review the approvalPause GDLC’s Go-Live Date.
The GDLC is based on the CoinDesk Indians ‘Indians’ CoinDesk 5.
Stopping the launch provides SEC time to generate listing standards for other ETFs to launch under the same mechanism, individuals said.
There is also the fact that GDLC contains two digital assets – XRP
and Cardano – which currently does not have its own individual ETFs. Two of the other basket owners, Bitcoin and Ethereum, have had its own ETFs since 2024, and the SEC has previously been Okayed fund Contains both of those possessions. Solana din Saw The first Launch of the ETF earlier this week, although applications for other ETFs tied to the asset remain under the evaluation of the SEC.
The SEC is faced with next year’s deadlines for XRP, ADA and Sol applications.
James Seyffart, analyst of Bloomberg Intelligence ETF, told CoinDesk that the SEC pause was “not normal.” In a Post on xHe wrote that there were two potential reasons behind the move.
“The SEC does not want to let anything launch under the 19B-4 processes until they officially approve or generate some framework for digital properties in the ETF wrap.” The other option, he wrote, was that the SEC wanted to work on something related to a certain aspect of the fund itself, for example the structure.
In a statement, a Grayscale spokesperson said that the Pause of the SEC “was unexpected” but “reflects the dynamic and emerging nature of regulation surrounding a first-of-its-kind digital asset product such as the GDLC.”
“Grayscale remains committed to chasing the GDLC list as an ETP and we work closely with the main stakeholders to meet all the necessary requirements. We will provide additional updates while additional information is available,” the spokesman said.
An 8-K filing From the Grayscale the firm said “remains focused on chasing the NYSE ARCA fund list and continuing to work closely with major stakeholders to obtain application approved.”
