TechFlow reports that on October 31, Nate Geraci, President of The ETF Store, disclosed that the U.S. Securities and Exchange Commission (SEC) issued a notice (File No. 34-101470) on October 29, 2024, officially confirming receipt of an application from NYSE Arca seeking to convert the Grayscale Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF). The fund currently manages approximately $524 million in assets, with a portfolio consisting of Bitcoin (about 75%), Ethereum (about 19%), as well as Solana, XRP, and Avalanche.
The SEC stated it will solicit public comments regarding this proposed rule change. This marks another significant product transition for Grayscale following the approvals of its Bitcoin and Ethereum ETFs. According to the application filed by NYSE Arca on October 15, the new Rule 8.800-E would establish a framework supporting the listing and trading of commodity and digital asset investment products.
Previous report: Grayscale submitted an application to convert its multi-token fund, the Grayscale Digital Large Cap Fund (GDLC), into an exchange-traded fund (ETF).
