{"id":34879,"date":"2025-07-02T20:02:00","date_gmt":"2025-07-02T20:02:00","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=34879"},"modified":"2025-07-02T20:02:00","modified_gmt":"2025-07-02T20:02:00","slug":"sec-halts-grayscale-large-cap-fund-approval-for-review","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=34879","title":{"rendered":"SEC Halts Grayscale Large Cap Fund Approval for &#8216;Review&#8217;"},"content":{"rendered":"<div>\n<p>The U.S. Securities and Exchange Commission&#8217;s leaders are reviewing the agency&#8217;s <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/07\/01\/sec-approves-grayscale-etf-that-includes-btc-eth-sol-xrp-ada\">recent approval <\/a>of a Grayscale effort to convert a fund into an exchange-traded fund (ETF), <a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/nysearca\/2025\/sr-nysearca-2024-87-rule-431-letter-2025-07-01.pdf\">a letter dated<\/a> July 1 said. <\/p>\n<p>The SEC allowed Grayscale to uplist the Digital Large Cap Fund (GDLC), which holds $755 million in bitcoin BTC, Ethereum ETH, XRP XRP, Solana SOL and Cardano ADA, into an ETF through delegated authority \u2014 meaning the SEC&#8217;s commissioners did not vote to approve the conversion, but rather agency staff gave the sign-off.<\/p>\n<p>&#8220;This letter is to notify you that, pursuant to Rule 431 of the Commission\u2019s Rules of Practice, 17 CFR 201.431, the Commission will review the delegated action,&#8221; the <a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/nysearca\/2025\/sr-nysearca-2024-87-rule-431-letter-2025-07-01.pdf\">letter said<\/a>. &#8220;In accordance with Rule 431(e), the July 1, 2025 order is stayed until the Commission orders otherwise.&#8221;<\/p>\n<p>Any commissioner can ask that an SEC action be reviewed. In the past, commissioners have asked to review ETF disapprovals, for example.<\/p>\n<p>GDLC is benchmarked to CoinDesk&#8217;s CoinDesk 5 Index. <\/p>\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission&#8217;s leaders are reviewing the agency&#8217;s recent approval of a Grayscale effort to convert a fund into an exchange-traded fund (ETF), a letter dated July 1 said. The SEC allowed Grayscale to uplist the Digital Large Cap Fund (GDLC), which holds $755 million in bitcoin BTC, Ethereum ETH, XRP XRP, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-34879","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34879","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=34879"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/34879\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}