Grayscale | Crypto

Attorneys for Grayscale argued that the US regulator's delay of the approval or disapproval decision clashes with existing statutes. Attorneys for digital asset manager Grayscale pushed back against the US Securities and Exchange Commission’s (SEC) delay on approving its Digital Large Cap exchange-traded fund (ETF) in a letter sent on Tuesday. The SEC’s Division of Trading and Markets initially approved the ETF proposal, but the SEC’s Office of the Secretary decided to review the action immediately afterward, halting the decision, Grayscale’s attorneys said. This violates the “statutory approval or disapproval deadline” set by the SEC and conflicts with established procedure, according to the attorneys. The letter read: Read more

Grayscale’s conversion of its Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF) has been frozen by a stay order, despite receiving approval from the Securities and Exchange Commission (SEC) on July 1. Bloomberg ETF analyst James Seyffart said in a social media post on July 2 that the stay blocks the conversion “for now” […] The post SEC temporarily halts Grayscale’s multi-asset crypto ETF debut despite conversion greenlight appeared first on CryptoSlate.

Grayscale has slowly narrowed the arbitrage opportunities on its crypto trusts by converting them into exchange-traded funds. Asset manager Grayscale received approval from the US Securities and Exchange Commission (SEC) on Tuesday to convert its Digital Large-Cap Fund into an exchange-traded fund (ETF). The fund consists of the five biggest cryptocurrencies by market capitalization featured in the CoinDesk Five Index. Roughly 80.2% of the weighted fund is Bitcoin (BTC), followed by Ether (ETH) at 11.3%, while Solana (SOL) accounts for approximately 2.7% of the fund, XRP (XRP) commands over 4.8%, and Cardano's ADA (ADA) has a weighting of 0.81% in the fund. Read more

Grayscale has unveiled a new single-asset investment vehicle centered on the Space and Time (SXT) token, according to a June 24 announcement. The fund, officially named the Space and Time Trust, offers accredited investors direct exposure to one of the crypto sector’s newest data infrastructure projects. Individual and institutional participants can subscribe to the Trust […] The post Grayscale launches Space and Time Trust to capture surging interest in data infrastructure appeared first on CryptoSlate.