The U.S. Securities and Exchange Commission (SEC) has acknowledged Grayscale's application to convert its Digital Large Cap Fund into a spot exchange-traded fund (ETF). The fund includes major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA). This move marks a significant step in Grayscale's efforts to offer a spot ETF, which would allow investors to gain direct exposure to these digital assets through a regulated investment vehicle.