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    Home»Altcoins»SEC's Halt of ETF Holding XRP and Solana Has Buyers 'Struggling Hurt', Grayscale Says – Decrypt
    SEC's Halt of ETF Holding XRP and Solana Has Buyers 'Struggling Hurt', Grayscale Says – Decrypt
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    SEC's Halt of ETF Holding XRP and Solana Has Buyers 'Struggling Hurt', Grayscale Says – Decrypt

    By Crypto EditorJuly 12, 2025No Comments3 Mins Read
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    SEC's Halt of ETF Holding XRP and Solana Has Buyers 'Struggling Hurt', Grayscale Says – Decrypt

    In short

    • Grayscale is urging the U.S. Safety and Alternate Fee to cease holding up the debut of its exchange-traded fund that holds Bitcoin, Ethereum, Solana, XRP, and Cardano.
    • The SEC positioned a keep on The Digital Massive Cap Fund’s so as to evaluate it additional.
    • Grayscale mentioned Tuesday it’s contemplating submitting a petition to drive the regulator to permit its fund to start buying and selling.  

    Grayscale has challenged the U.S. Safety and Alternate Fee’s transfer to pause the debut of its exchange-traded fund that holds Bitcoin, Ethereum, Solana, XRP, and Cardano, alleging its buyers are “struggling hurt” on account of the hold-up. 

    In a letter dated July 8, the asset supervisor urged the Securities Fee to permit its Digital Massive Cap Fund to start buying and selling. 

    Grayscale added that it might file a petition to drive the regulator to permit its fund to start buying and selling as quickly as potential.  

    “The Alternate and the Fund’s present buyers are struggling hurt on account of the delay in public launch of the Fund,” Grayscale’s legal professionals mentioned within the letter. 

    The Fee greenlighted the Grayscale Digital Massive Cap Fund on July 1. However, the regulator positioned a keep on the ETF later that week, citing its have to additional evaluate the product. 

    The Digital Massive Cap Fund is essentially composed of Bitcoin, which accounts for 80% of its underlying property. One other 11% of its holdings are in Ethereum, whereas Solana, XRP and Cardano make up 2.8%, 4.8% and 0.8% of the fund, respectively, in response to an SEC submitting. 

    The fund is slated to be listed on NYSE Arca underneath the ticker GDLC. 

    In pausing the fund’s roll out, the Fee has seemingly circumvented a rule enacted by lawmakers to ensure the well timed approval or rejection of securities merchandise, Grayscale argued in its letter. 

    “The Fee’s inner housekeeping guidelines can’t be used to skirt an act of Congress,” Grayscale’s legal professionals wrote.  

    Grayscale’s back-and-forth with regulators underscores the hurdles asset managers face to debut digital asset-based funding merchandise within the U.S., whilst President Donald Trump’s administration ratchets again crypto business laws stateside. 

    Funding corporations have flooded regulators’ desks with purposes for ETFs monitoring the costs of assorted cryptocurrencies, together with meme cash corresponding to Official Trump and Dogecoin and different altcoins like XRP, Solana and Aptos. 

    However whereas Bitcoin and Ethereum ETFs each received approval final yr to start buying and selling within the U.S., purposes for many different digital asset-based funds are nonetheless awaiting a regulatory inexperienced mild.

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