{"id":871622,"date":"2025-09-09T01:13:03","date_gmt":"2025-09-09T06:13:03","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/09\/09\/sec-approves-grayscales-conversion-of-btc-eth-sol-xrp-fund-into-an-etf\/"},"modified":"2025-09-09T01:13:03","modified_gmt":"2025-09-09T06:13:03","slug":"sec-approves-grayscales-conversion-of-btc-eth-sol-xrp-fund-into-an-etf","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/09\/09\/sec-approves-grayscales-conversion-of-btc-eth-sol-xrp-fund-into-an-etf\/","title":{"rendered":"SEC approves Grayscale\u2019s conversion of BTC, ETH, SOL, XRP fund into an ETF"},"content":{"rendered":"<p>Bitcoins <\/p>\n<div data-site=\"CoinJournal\">\n<div data-site=\"CoinJournal\">\n<picture><source  type=\"image\/webp\" media=\"(min-width: 750px)\"><source  type=\"image\/webp\"><source  type=\"image\/jpeg\" media=\"(min-width: 750px)\"><source  type=\"image\/jpeg\"><img decoding=\"async\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2025\/07\/sec-approves-grayscale-fund.png\" alt=\"bitcoins Webull reopens crypto trading for US users following 2023 suspension\" width=\"100%\" height=\"100%\">\n<\/picture>                            <\/div>\n<ul>\n<li><span>The U.S. Securities and Exchange Commission has approved Grayscale\u2019s Digital Large Cap Fund conversion into a spot ETF.<\/span><\/li>\n<li><span>The fund holds Bitcoin, Ethereum, XRP, Solana, and Cardano.<\/span><\/li>\n<li><span>Experts expect approvals of multiple crypto spot ETFs.<\/span><\/li>\n<\/ul>\n<p>The U.S. Securities and Exchange Commission (SEC) has approved the conversion of <a href=\"https:\/\/coinjournal.net\/news\/tag\/grayscale\/\">Grayscale<\/a>\u2019s Digital Large Cap Fund (GDLC) into a spot exchange-traded fund (ETF).<\/p>\n<p>GDLC is a fund that holds mega cap cryptocurrencies Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA).<\/p>\n<p>SEC\u2019s approval, announced in a <a href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/nysearca\/2025\/34-103364.pdf\" target=\"_blank\" rel=\"noopener\">filing<\/a> on Tuesday, marks a significant milestone for cryptocurrency investment products, particularly as investors eye further spot ETF nods from the regulator.<\/p>\n<h2>Bitcoins SEC approved Grayscale\u2019s large-cap fund to convert into a spot ETF<\/h2>\n<p>This decision, announced on July 1, 2025, speaks to the SEC\u2019s growing acceptance of regulated cryptocurrency investment products and investor\u2019s quest for exposure.<\/p>\n<p>Greenlight for Grayscale\u2019s digital large-cap fund adds to the available spot ETFs in the US, notably spot Bitcoin and Ethereum ETFs that the regulator approved in 2024.<\/p>\n<p>With this development, Grayscale\u2019s fund will now trade on the NYSE Arca. The final deadline for SEC to either approve or reject the application was July 2, 2025.<\/p>\n<blockquote>\n<p>\u201cApproval was our expectation. The fund is over 90% Bitcoin and Ethereum. The next big date is Bitwise\u2019s BITW deadline of July 31,\u201d Bloomberg ETF analyst James Seyffart <a href=\"https:\/\/x.com\/JSeyff\/status\/1940098215090823621\" target=\"_blank\" rel=\"noopener\">said<\/a>. \u201cBut SEC could obviously go early.\u201d<\/p>\n<\/blockquote>\n<p>The newly approved ETF will include a basket of major cryptocurrencies, comprising Bitcoin (79.4%), Ethereum (11.6%), XRP (4.8%), Solana (2.9%), and Cardano (0.8%), mirroring the fund\u2019s current holdings.<\/p>\n<figure id=\"attachment_319060\" aria-describedby=\"caption-attachment-319060\"><img fetchpriority=\"high\" decoding=\"async\" data-source=\"CoinJournal\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2025\/07\/gdlc-fund-components-by-bloomberg-1.png\" alt width=\"808\" height=\"542\"><figcaption id=\"caption-attachment-319060\">Bitcoin makes up largest share of the Grayscale Digital Large Cap Fund. Source: Bloomberg<\/figcaption><\/figure>\n<p>Grayscale initially <a href=\"https:\/\/coinjournal.net\/news\/grayscale-moves-to-convert-digital-large-cap-fund-into-etf-what-it-means-for-investors\/\">filed for this conversion<\/a> on April 1, 2025, proposing a spot ETF structure to provide investors with direct exposure to these assets.<\/p>\n<p>Following regulatory feedback, the company submitted an amended filing on June 30, 2025, with the SEC setting a final decision deadline of July 2, 2025. The approval order, released today, confirms the fund\u2019s eligibility to list and trade shares, a process finalized ahead of schedule, highlighting the SEC\u2019s streamlined approach to this application.<\/p>\n<h2>Bitcoins Experts say SEC will soon approve multiple crypto spot ETFs<\/h2>\n<p>Industry analysts anticipate that the SEC\u2019s approval of Grayscale\u2019s ETF signals the imminent approval of additional crypto spot ETFs.<\/p>\n<p>Recently, Bloomberg ETF analyst Eric Balchunas highlighted the SEC\u2019s imminent approvals. He pointed to the no further comments scenario around REX and Osprey Funds\u2019 filings for a staked Solana (SOL) ETF as notable. That spot ETF, expected to launch on July 3, offers yield-generating staking features and is the first staked crypto ETF in the U.S.<\/p>\n<p>SEC has recently delayed decisions on multiple spot crypto ETFs, including for XRP and SOL.<\/p>\n<div>\n<hr>\n<h6>Share this article<\/h6>\n<hr>\n<h6>Categories<\/h6>\n<hr>\n<h6>Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p> Benson Toti <a href=\"https:\/\/coinjournal.net\/news\/sec-approves-grayscales-conversion-of-btc-eth-sol-xrp-fund-into-an-etf\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. Securities and Exchange Commission has approved Grayscale\u2019s Digital Large Cap Fund conversion into a spot ETF. The fund holds Bitcoin, Ethereum, XRP, Solana, and Cardano. Experts expect approvals of multiple crypto spot ETFs. The U.S. Securities and Exchange Commission (SEC) has approved the conversion of Grayscale\u2019s Digital Large Cap Fund (GDLC) into a<\/p>\n","protected":false},"author":1,"featured_media":871623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23704,73199],"tags":[11476],"class_list":{"0":"post-871622","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-approves","8":"category-grayscales","9":"tag-bitcoins"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/871622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=871622"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/871622\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/871623"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=871622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=871622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=871622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}