SEC approves amendment to convert Grayscale Digital Large Cap Fund into ETF

PANews reported on July 2 that according to The block, the U.S. Securities and Exchange Commission (SEC) approved the rule change proposal put forward by the New York Stock Exchange Arca in an "accelerated" manner to allow the shares of Grayscale Digital Large Cap Fund LLC to be listed for trading. The SEC stated that in accordance with Section 19(b)(2) of the Exchange Act, it now orders the accelerated approval of the proposed rule change (SR-NYSEARCA-2024-87) (as amended by Amendment No. 1). The fund is currently traded over-the-counter for qualified investors, mainly composed of Bitcoin, accounting for nearly 80%, followed by Ethereum, accounting for about 11%, and Solana, Cardano and XRP are also included, accounting for single digits.