SEC Receives Application To Convert Grayscale Digital Large Cap Fund To ETF

According to BlockBeats, on October 31, Nate Geraci, President of The ETF Store, announced on X that the U.S. Securities and Exchange Commission (SEC) has officially confirmed receipt of the application to convert the Grayscale Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF). The SEC is currently seeking public comments on the matter. Previously, on October 15, Grayscale Investments submitted an application to the SEC to convert its mixed cryptocurrency fund, which includes Bitcoin, Ethereum, Solana, XRP, and Avalanche, into an ETF. The company has already converted its Bitcoin and Ethereum funds into ETFs. According to the official website, the product, named the Grayscale Digital Large Cap Fund (GDLC), is currently traded over-the-counter and has assets under management (AUM) of $524 million. The fund is primarily composed of Bitcoin (nearly 75%) and Ethereum (approximately 19%), with the remaining portion consisting of Solana, XRP, and Avalanche.