SEC has stalled the Bitcoin and altcoin ETF it approved.

The Securities and Exchange Commission of the United States (SEC), did not want the Grayscale GDLC ETF consisting of Bitcoin and altcoins, which it approved yesterday, to be launched under the current conditions and has put the process on hold.

There are two possibilities

According to Bloomberg ETF analyst James Seyffart, the institution has suspended the launch of the ETF through a letter attached to the decision. Bloomberg analysts suggest that there may be two reasons for this move. The first is that the institution may not want any products to be launched until a clear framework is established for the issuance of digital assets as ETFs. The second possibility is that the SEC may be working on a topic directly related to GDLC itself. Seyffart states, "The final approval has been given by the Trading and Markets Unit. Perhaps another unit of the SEC is not yet ready to allow this transformation to occur."

It consists of Bitcoin and 4 altcoins

Grayscale had applied to the SEC months ago for the conversion of its fund named Digital Large Cap Fund into a spot ETF, and the decision regarding this application was announced yesterday. The institution had announced that it approved the application. The fund has over 750 million dollars in assets under management, which consist of 80.41% Bitcoin, 11.15% ETH, 4.83% XRP, 2.86% SOL, and 0.75% ADA.

Published: July 2, 2025 23:09