SEC suspends Grayscale crypto fund ETF conversion application

Odaily Planet Daily News: The US Securities and Exchange Commission (SEC) has announced the suspension of Grayscale's Digital Large Cap Fund's plan to convert into an ETF, after the application had been preliminarily approved by the SEC's trading and markets department. The SEC stated in a letter to the New York Stock Exchange that it will conduct a comprehensive review of the decision and the relevant orders will be temporarily suspended until further notice. The fund's main holdings include approximately 80% Bitcoin and 11% Ethereum, as well as assets such as Solana, Cardano, and XRP. The SEC is currently reviewing multiple cryptocurrency ETF proposals, including tracking products from SOL, XRP, and DOGE. （The Block）