Overview

The U.S. Securities and Exchange Commission (SEC) has temporarily delayed the introduction of Grayscale’s Digital Large Cap Fund (GDLC) ETF, purportedly for administrative reasons rather than political ones. Sources have indicated that this pause allows the SEC to revisit listing standards for cryptocurrency ETFs.

Key Points

• The SEC’s decision to halt the GDLC ETF launch is seen as a need for clearer crypto ETF regulations.
• GDLC will consist of major assets such as XRP and Cardano, which currently do not have their own ETFs.
• This move comes after the SEC previously approved GDLC for listing through delegated authority, with the review from the SEC’s commissioners being the latest development.

Conclusion

Grayscale is dedicated to accomplishing the listing of GDLC, continuing collaboration with stakeholders to adhere to the necessary requirements. As they navigate this evolving landscape, the SEC faces impending deadlines concerning the applications for XRP and ADA.