July 12, 2025
Grayscale Challenges Sec's Delay of GDLC etF Launch, Calls Stay Order Ulawfulful thumbnail
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Grayscale Challenges Sec’s Delay of GDLC etF Launch, Calls Stay Order Ulawfulful

The Asset Manager Says of Surprise Pause on Its Approved Multi-Asset Crypto Etf is Unlawful and Hurting Investors.”, – WRITE: www.coindesk.com

The Asset Manager Says of Surprise Pause on Its Approved Multi-Asset Crypto Etf is Unlawful and Hurting Investors. Jul 11, 2025, 2:49 pm

Grayscale has pushed back against the US securities and exchange commission (SEC) Decision to Halt the Launch of Its Large-Crypto etf, Calling The agency

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The Asset Manager Filed A Letter with the Sec on Friday in Responsee to the UNEXPECTED PAUSE ON ITS Plan to Convert the Grayscale Digital Large Cap Fund (GDLC) Into An Exchange-Trad. The Sec Had Already Approved the Conversion Earlier this year but then Issued a stay order to review the Approval – Without Explaing Wholing.

“GrayScale, The Exchange and The Fund’s Current Investors Are Suffering Harm As A Result of the Delay,“ The Company Said in Its Letter.

The gdlc etf would Hold a Basket of Large-Cap Digital Assets Including Bitcoin, Ether, XRP, Solana and Cardano, With AUND 80% Of The Fund Currented. The MOVE TO CONVERT IT INTO A SPOT ETF IS Part of Grayscale’s Broader Strategy to Bring More Crypto Products to Mainstream

Etf in january.

While the Sec Has Not Clarified Ita Reasons for the Delay, Market Watchers Suggest The Hold Is Likely Due to International Procedural Issues, Racher Thanksal. The etf would Hold Bitcoin, Ethereum, Solana, Cardano and XRP. Of these, Cardano and Xrp Don’t Currently Have their Own Individual Etfs, and Solana Just Has One Fund – with Several Applications Hoping to Add to this Number.

Scott Johnsson, A Financial Lawyer and etf Expert, SAID IN A POST on X that Although The Sec’s Move Was Out of the Ordinary, It Likely Won’t Deril The Fund Entirely.

“Given Grayscale Was Suggesting they Productive Talks with the Sec Prior to Approval, and They Had Made Exteensive Amendments to the Rule Proposal With Those Discussions, Discussions, and Mad. A Parting Gift from Crenshaw Acting Unilaterally, ”He Wrote, Referring to Sec Commissioner Caroline Crenshaw. “This is Going to Launch, It’s Just A Matter of When IMO.”

If Approved, GDLC Wuld be the First Multi-Asset Crypto Etf in the Us, Giving Investors Exposure to A Curated Basket of Top Digital Currencies Withouts.

Disclaimer: Parts of this Article Were Generated with the Assistance from Ai Tools and Review by Our Editorial Team to Enseure Accucy and Adherence to Our Standards. For more information, See Coindesk’s Full Ai Policy.

Helene Braun

Helene is a New York-Basted Markets Reporter at Coindesk, Covering The Latest News From Wall Street, The Rise of the Spot Bitcoin Exchange-Traded Funds and Updates on CRYPTO Markets. She is a graduate of new York University’s Business and Economic Reporting Program and Has Appeared on CBS News, Yahoofinance and Nasdaq Tradethalks. She Holds BTC and ETH.

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Helene Braun

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