The leaders of the American Securities and Exchange Commission commission examine the recent approval by the agency of an effort in gray levels to convert a fund to the funds negotiated on the stock market on the stock market on the stock market on the stock market (ETF)said a letter dated July 1.
The SEC has enabled Graycale to set up the digital fund for large capitalization (GDLC)which contains $ 755 million in Bitcoin
Ethereum, XRP, Solana and Cardano, in an ETF by the delegated authority – which means that the SEC commissioners did not vote to approve the conversion, but rather the agency staff gave the signing.
“This letter is to inform you that, in accordance with rule 431 of the Commission’s practice rules, 17 CFR 201.431, the Commission will examine the delegated action,” said the letter, addressed to the New York Stock Exchange. “In accordance with rule 431(e)The ordinance of July 1, 2025 is suspended until the commission ordered otherwise. “”
The SEC said that it would inform the nyse “of any relevant measure taken by the commission”.
Any commissioner may request that the action of the dry be examined. In the past, the commissioners have asked to review the disapprove of the ETF, for example. The letter did not indicate which commissioner asked for the exam.
GDLC is compared to the Coindesk 5 index of Coindesk.
The spokesperson for Grayscale and the NYSE did not immediately return a comment request.
A SEC spokesperson refused to comment on the letter.
UPDATE (July 2, 2025, 20:05 UTC):: Add additional details, dry refusing to comment.
