“The Commission’s Pause on Grayscale’s Digital Large Cap Fund Etf is Likely Tied to Listing Standards, Not Politics, Sources Say.”, – WRITE: www.coindesk.com
The Sec Approved GDLC to Uplist As An Exchange-Traded Fund (ETF) On Tuesday Through Staffers’ Delegated Authority, Meaning The Regulator’s Commissiors Did Not. Neverthaless, The Regulator Informed Grayscale and the New York Stock Exchange-Gdlc’s Listing Partner-on Wednesday that the Sec’s Commissiors Will Review the Approval, Passion Gdlc’s Go-Live.
GDLC is bassed on Coindesk Indices’ Coindesk 5 Index.
Halting The Launch Gives the Sec Time to Develop Listing Standards for Other Etfs that wound Launch Under the Same Mechanism, The Individuals Said.
There’s Also The fact that gdlc Contains Two Digital Assets – XRP
and Cardano
– That don’t currently have their own individual etfs. Two of the Other Assets in the Basket, Bitcoin
and Ethereum
have had their Own Etfs Since 2024, and the Sec Has Even Previoously Okayed Funds Containing Both of Those Assets. Solana
ALSO SAW ITS FIRST ETF LAUNCH EARLIER This Week, Thought Applications for Other Etfs Tied to the Asset Remain Under Sec Review.
The Sec Faces Deadlines Later This Year for the XRP, Ada and Sol Applications.
James Seyffart, Bloomberg Intelligence Etf Analyst, Told Coindesk That Sec’s Pause Was “Not Normal.” In a post on x, he wrote that there are two potential reasons behind the move.
“The Sec Doesn’t Want To Let Anything to Launch Under The 19B-4 Process Untilhe Official Approve or Come Up with Some Framework for Digital Assets in the Etf Wraper.” The Other Option, He Wrote, is that Sec Wantts to Work on Something in Relation to a Special Aspect of the Fund Itself, for Example the Structure.
In a statement, A Grayscale SpokesPerson Said of the Sec’s Pause “was UntExpectioned” reflexes the Dynamic and Evolving Nature of the Regulatory LandsCape Surrupa Gdlc. ”
“GrayScale Remains Committed to Pursuing the Listing of Gdlc as an etp and We Are Working Closely with Key Stakeholders to Meet All Necessary Requires. Weet. BEComes Available, “The Spokesperson Said.
An 8-k filing from Grayscale Said the Firm “Remains Committed to Pursuing the Listing of the Fund on Nyse Arca and Continues to Work Closely with Key
