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Grayscale Wins SEC Nod for Multi-Crypto ETF Just Before Deadline
In a surprise move, the Securities and Exchange Commission (SEC) has granted approval to Grayscale’s Digital Large Cap Fund to convert into an exchange-traded fund (ETF) structure just before its July 2nd deadline. The newly approved ETF will be listed on the NYSE Arca and includes five major cryptocurrencies: Bitcoin, Ethereum, Solana, XRP, and Cardano.
Grayscale’s successful conversion marks a significant shift in the regulatory landscape for crypto-backed funds. This development is set to expand investor access to diversified crypto exposure through traditional brokerage accounts, providing institutional-grade custody and regulatory compliance for digital assets.
The newly approved ETF will be traded on NYSE Arca, allowing investors to participate in the cryptocurrency market while avoiding the complexities of individual token purchases.
Source: blockonomi.com
