SEC Decision on Grayscale Digital Large Cap ETF Expected This Week
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The U.S. Securities and Exchange Commission (SEC) is anticipated to make a decision on the approval of the Grayscale Digital Large Cap ETF (GDLC) this week. The ETF, which includes holdings in Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), is seen as having a high likelihood of approval, according to Nate Geraci, president of The ETF Store. Approval of GDLC could pave the way for spot ETFs for individual assets like XRP, SOL, and ADA.
If approved, the GDLC could serve as a pilot for integrating more crypto assets into the ETF framework, offering a gradual approach for regulators. Currently, XRP, SOL, and ADA make up less than 10% of GDLC's holdings, providing a measured entry point for the SEC to consider broader crypto asset inclusion.