CLRM03
--
$XRP The ETF for bitcoin, Ethereum, XRP, Solana, and Cardano is paused after its approval
The SEC argues that there were administrative errors in making the decision to approve this investment fund
The U.S. Securities and Exchange Commission (SEC) suspended the approval of the Digital Large Cap Fund (GDLC), managed by Grayscale Investments, which offered exposure to bitcoin (BTC), ether (ETH), XRP, Solana (SOL), and Cardano (ADA).
The decision, communicated to the New York Stock Exchange, is based on alleged administrative errors detected in the authorization process.
On July 1, the SEC had allowed the conversion of the GDLC, a fund that was already operating in secondary markets, to meet the requirements of a spot ETF.
As reported by CriptoNoticias, this fund was the first to include a combination of cryptocurrencies beyond bitcoin and ether, with a portfolio composed of bitcoin (80.2%), ether (11.39%), XRP (4.82%), Solana (2.78%), and Cardano (0.81%), rebalanced quarterly.
However, the SEC clarified that the approval was granted by delegated authority, without the vote of the commissioners, which led to the review of the process. In the letter sent to the New York Stock Exchange, the Commission indicated that the order of July 1, 2025, remains paused until further notice, in accordance with Rule 431 of its regulations.
Despite the suspension, ETF specialist Nate Geraci noted that the SEC's decision could be a step towards creating a clear regulatory framework for cryptocurrency ETFs.
$ETH $SOL
The SEC argues that there were administrative errors in making the decision to approve this investment fund
The U.S. Securities and Exchange Commission (SEC) suspended the approval of the Digital Large Cap Fund (GDLC), managed by Grayscale Investments, which offered exposure to bitcoin (BTC), ether (ETH), XRP, Solana (SOL), and Cardano (ADA).
The decision, communicated to the New York Stock Exchange, is based on alleged administrative errors detected in the authorization process.
On July 1, the SEC had allowed the conversion of the GDLC, a fund that was already operating in secondary markets, to meet the requirements of a spot ETF.
As reported by CriptoNoticias, this fund was the first to include a combination of cryptocurrencies beyond bitcoin and ether, with a portfolio composed of bitcoin (80.2%), ether (11.39%), XRP (4.82%), Solana (2.78%), and Cardano (0.81%), rebalanced quarterly.
However, the SEC clarified that the approval was granted by delegated authority, without the vote of the commissioners, which led to the review of the process. In the letter sent to the New York Stock Exchange, the Commission indicated that the order of July 1, 2025, remains paused until further notice, in accordance with Rule 431 of its regulations.
Despite the suspension, ETF specialist Nate Geraci noted that the SEC's decision could be a step towards creating a clear regulatory framework for cryptocurrency ETFs.
$ETH $SOL
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
6
0