US SEC Approves Amendment to Convert Grayscale Digital Large Cap Funds to ETFs

Foresight News According to The block, the U.S. Securities and Exchange Commission (SEC) approved a "accelerated" proposal for a rule change proposed by New York Stock Exchange Arca, allowing Grayscale Digital Large Cap Fund LLC to be listed for trading. The SEC stated that under Section 19(b)(2) of the Transactions Act, it is now ordered to accelerate the approval of the proposed rule changes (SR-NYSEARCA-2024-87) (amended by Amendment No. 1). The fund is currently trading for qualified investors off-market, mainly composed of Bitcoin, accounting for nearly 80%, ETH accounts for about 11%, and Solana, Cardano and XRP are also included, accounting for single digits.
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