The U.S. Securities and Exchange Commission (#SEC ) has officially approved the conversion of the large-cap digital fund #Grayscale into an exchange-traded fund (#ETF ).
This fund, the first of its kind, provides an investment opportunity in Bitcoin ($BTC ) and Ethereum ($ETH ), in addition to $XRP .
and some other altcoins.
According to U.,T,oday, the regulatory authority approved Grayscale's amended registration in S-3 ahead of the anticipated decision. The final approval deadline was July 2.
The approval of Grayscale's application for GDLC has officially launched what is called the "Crypto Trading Funds Summer."
There are also several proposals for single-token crypto trading funds in the United States for XRP and Solana (#SOL ) and other tokens. According to Bloomberg analysts, these products are strongly expected to be approved in the second half of the year.
As reported by U Today, Brazil became the first country to approve a spot trading fund for Ripple (XRP) earlier in February. The leading product Has,hdex is available for trading on the Brazilian Stock Exchange (B3).
Subsequently, Purp,ose Inves, tments launched the first spot trading fund for #الريبل in North America on the Toronto Stock Exchange (TSX) in June.
Currently, there are only spot trading funds for Ripple and Ethereum. In January, the U.S. Securities and Exchange Commission (SEC) also approved the Bit,,wise product that combines the two largest cryptocurrencies.