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The SEC has temporarily suspended the GDLC listing application, and Grayscale states it will continue to advance the encryption ETF conversion plan.
According to Mars Finance, after the unexpected halt by the U.S. Securities and Exchange Commission (SEC) on the listing process of Grayscale Digital Large Cap Fund (GDLC), Grayscale stated that it will continue to work towards converting the fund into an Exchange-Traded Product (ETP). The fund consists of approximately 80% Bitcoin, 11% Ethereum, and a small amount of SOL, ADA, and XRP, and had originally received expedited approval. Analysts believe that the SEC's move is intended to establish a unified listing framework for the overall encryption ETF, or to pave the way for subsequent Spot ETFs for SOL, DOGE, and others. (The Block)