The U.S. Securities and Exchange Commission on 1 July approved Grayscale Investments’ proposal to convert its Digital Large Cap Fund into a spot exchange-traded fund
The U.S. Securities and Exchange Commission on 1 July approved Grayscale Investments’ proposal to convert its Digital Large Cap Fund into a spot exchange-traded fund, according to multiple crypto-industry publications. The new vehicle will hold Bitcoin, Ether, XRP, Solana and Cardano, offering investors diversified exposure to five of the market’s most-traded digital assets.
The decision comes a day after the agency formally acknowledged Grayscale’s amended filing and represents the first clearance of a multi-asset spot crypto ETF in the United States. Market participants said the ruling could open the door for additional diversified digital-asset products, expanding access to cryptocurrencies through traditional brokerage channels.
This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.
Source: https://thedefiant.io/news/regulation/sec-approves-grayscale-multi-asset-spot-crypto-etf-381102d5