U.S. SEC Reconsiders Approval for Grayscale's Cryptocurrency Trust ETF Conversion Involving BTC and XRP

On July 1, the U.S. Securities and Exchange Commission (SEC) announced that it would review at the committee level the decision to approve the ETF conversion of the Grayscale Digital Large Cap Fund ('Digital Large Cap Fund'). The listing on NYSE Arca is suspended until further action by the committee. Related: The SEC approves the ETF conversion of Grayscale's cryptocurrency fund investing in Bitcoin and XRP. On the same day, the SEC formally notified NYSE Arca to commence the review procedures based on Rule 431. The approval decision made on July 1 was from the Trading Markets division...