- The U.S. Securities and Change Fee has permitted Grayscale’s Digital Massive Cap Fund conversion right into a spot ETF.
- The fund holds Bitcoin, Ethereum, XRP, Solana, and Cardano.
- Consultants anticipate approvals of a number of crypto spot ETFs.
The U.S. Securities and Change Fee (SEC) has permitted the conversion of Grayscale’s Digital Massive Cap Fund (GDLC) right into a spot exchange-traded fund (ETF).
GDLC is a fund that holds mega cap cryptocurrencies Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA).
SEC’s approval, introduced in a submitting on Tuesday, marks a big milestone for cryptocurrency funding merchandise, significantly as traders eye additional spot ETF nods from the regulator.
SEC permitted Grayscale’s large-cap fund to transform right into a spot ETF
This choice, introduced on July 1, 2025, speaks to the SEC’s rising acceptance of regulated cryptocurrency funding merchandise and investor’s quest for publicity.
Greenlight for Grayscale’s digital large-cap fund provides to the out there spot ETFs within the US, notably spot Bitcoin and Ethereum ETFs that the regulator permitted in 2024.
With this growth, Grayscale’s fund will now commerce on the NYSE Arca. The ultimate deadline for SEC to both approve or reject the applying was July 2, 2025.
“Approval was our expectation. The fund is over 90% Bitcoin and Ethereum. The subsequent huge date is Bitwise’s BITW deadline of July 31,” Bloomberg ETF analyst James Seyffart stated. “However SEC may clearly go early.”
The newly permitted ETF will embrace a basket of main cryptocurrencies, comprising Bitcoin (79.4%), Ethereum (11.6%), XRP (4.8%), Solana (2.9%), and Cardano (0.8%), mirroring the fund’s present holdings.
Grayscale initially filed for this conversion on April 1, 2025, proposing a spot ETF construction to supply traders with direct publicity to those property.
Following regulatory suggestions, the corporate submitted an amended submitting on June 30, 2025, with the SEC setting a last choice deadline of July 2, 2025. The approval order, launched right this moment, confirms the fund’s eligibility to record and commerce shares, a course of finalized forward of schedule, highlighting the SEC’s streamlined strategy to this software.
Consultants say SEC will quickly approve a number of crypto spot ETFs
Trade analysts anticipate that the SEC’s approval of Grayscale’s ETF indicators the approaching approval of extra crypto spot ETFs.
Just lately, Bloomberg ETF analyst Eric Balchunas highlighted the SEC’s imminent approvals. He pointed to the no additional feedback situation round REX and Osprey Funds’ filings for a staked Solana (SOL) ETF as notable. That spot ETF, anticipated to launch on July 3, affords yield-generating staking options and is the primary staked crypto ETF within the U.S.
SEC has just lately delayed selections on a number of spot crypto ETFs, together with for XRP and SOL.
