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    Home»Crypto News»Grayscale pushes again on SEC's determination to remain ETF conversion
    Grayscale pushes again on SEC's determination to remain ETF conversion
    Crypto News

    Grayscale pushes again on SEC's determination to remain ETF conversion

    By Crypto EditorJuly 11, 2025No Comments2 Mins Read
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    Grayscale pushes again on SEC's determination to remain ETF conversionGrayscale pushes again on SEC's determination to remain ETF conversion

    Grayscale Asset Administration has questioned the US Securities and Trade Fee (SEC) determination to concern a keep on the appliance to transform the Digital Giant Cap Fund (DLCF) into an exchange-traded fund (ETF).

    In a July 8 letter, Grayscale’s authorized group argued that the SEC exceeded its authority, as the appliance had already been accredited by the SEC workers previous to the keep.

    Earlier within the month, the SEC froze its determination on Grayscale’s software, only a day after workers had accredited it. Grayscale’s Digital Giant Cap Fund (GDLC), which holds property corresponding to Bitcoin, Ethereum, Solana, XRP, and Cardano, is reported to handle roughly $775 million in property.

    Grayscale challenges SEC

    Grayscale contends that the SEC’s imposition of the keep violates the 240-day approval course of required by US regulation.

    In keeping with the agency, the SEC had till the 240th day after the appliance was filed to approve or reject the proposal.

    Because the deadline handed and not using a determination, Grayscale asserts that the appliance ought to have been mechanically accredited.

    It said:

    “The 45/90/180/240-day timetable for approval or disapproval is about in stone, and the statute supplies no authority to the Fee to increase it, by rule or in any other case.”

    The asset administration agency additional emphasised that if the appliance had been for a public firm, the SEC can be certain to observe the timeline, and failure to take action would lead to automated approval.

    Grayscale additionally famous that the SEC’s delays are starting to hurt each the agency and its traders. Contemplating this, the agency identified it would discover submitting petitions to raise the keep and launch the ETF whereas the assessment continues.

    In the meantime, authorized skilled Scott Johnson identified that Grayscale’s letter signifies frustration with the SEC’s extended assessment quite than a want for litigation.

    He defined that Grayscale is keen to launch its product as quickly as potential, particularly with opponents like Bitwise’s BITW gaining floor.

    He said:

    “The one one which is smart. Grayscale gave it just a few days, and now they’re aggravated its taking the fee too lengthy to assessment/approve. BITW nipping on the heels and so they wish to transfer.”

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