Grayscale has received approval from the US Securities and Exchange Commission (SEC) to launch the country’s first exchange-traded product (ETP) that holds multiple cryptocurrencies.
The newly approved offering, known as the Grayscale Digital Large Cap Fund (GLDC), will be listed on public markets.
The fund includes a combination of five major digital assets: Bitcoin
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Grayscale’s CEO, Peter Mintzberg, shared the news on X on September 18. He noted that the team is moving quickly to bring the product to market and emphasized that it is the first ETP in the US to include multiple crypto assets under one product.
Mintzberg also thanked the SEC Crypto Task Force for its efforts to improve regulatory transparency in the crypto industry.
The SEC’s decision was based on updated listing rules designed to facilitate the review and approval of similar funds. These new standards apply to exchanges such as Nasdaq, NYSE Arca, and Cboe BZX.
They allow funds that meet certain predefined criteria to be listed without undergoing individual assessments, which helps speed up the process for new offerings.
Recently, Bitwise submitted a request ot the SEC to create a new ETF called Stablecoin & Tokenization ETF. What is the ETF’s purpose? Read the full story.
