Home » Altcoins » SEC Approves Grayscale ETF Tracking Top Five Cryptocurrencies

SEC Approves Grayscale ETF Tracking Top Five Cryptocurrencies

02.07.2025 9:06 1 min. read Kosta Gushterov
SHARE: SHARES
SEC Approves Grayscale ETF Tracking Top Five Cryptocurrencies

The U.S. Securities and Exchange Commission (SEC) has officially approved the conversion of the Grayscale Digital Large Cap Fund into an exchange-traded fund (ETF), finalizing its transition from an over-the-counter product into a fully regulated ETF structure.

According to the SEC’s filing on July 1, the newly approved ETF will issue trust units that track the performance of a diversified crypto basket made up of the five largest digital assets by market capitalization. These include Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA).

At the time of approval, the portfolio allocation was heavily weighted toward Bitcoin, which comprised roughly 80% of the fund. Ethereum followed at 11%, while XRP made up 4.8%, Solana 2.8%, and Cardano 0.8%, according to details provided in the regulatory order.

Grayscale also disclosed that the fund managed approximately $775 million in non-GAAP assets as of June 30.

This ETF conversion marks a significant milestone for crypto investment vehicles, potentially signaling broader institutional acceptance and paving the way for similar products seeking regulatory clearance.

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.

Telegram

SHARE: SHARES
More Altcoins News

Sui Price Prediction: SUI Surpasses BNB and HYPE Trading Volumes in June – $10 by July?

Sui (SUI) has gone up by nearly 4% in the past 24 hours and its performance is diverging from that of other altcoins after some interesting technical news. Popular trading accounts on X pointed out that Sui’s trading volumes in June surpassed those of well-established tokens like BNB Coin (BNB) and Hyperliquid (HYPER) by $7 […]

02.07.2025 18:40 3 min. read Alejandro Ar

Arizona Governor Vetoes Bill, Related to State Crypto Reserve Fund: Here Is Why

Arizona Governor Katie Hobbs has officially vetoed House Bill 2324, a legislative proposal that aimed to create a state-managed reserve fund for holding seized cryptocurrency assets.

02.07.2025 16:00 2 min. read Kosta Gushterov

SEC Explores New Fast-Track Process for Token-Based ETFs

The U.S. Securities and Exchange Commission (SEC) is in the early stages of developing a standardized listing framework for token-based exchange-traded funds (ETFs), according to a July 1 report by journalist Eleanor Terrett.

02.07.2025 14:00 2 min. read Kosta Gushterov

New Meme Coin to Watch: TOKEN6900 Presale Tipped as Next SPX6900

The recent launch of the TOKEN6900 (T6900) meme coin presale is a refreshing sight in a market oversaturated with presales focused on providing utility. Token6900 returns to the roots of meme coins, offering no utility. This is precisely what makes it appealing to those seeking a high-risk, high-reward asset to stockpile. Marketed as the world’s […]

01.07.2025 20:59 4 min. read Nikolay Kolev
No Comments yet!

Your Email address will not be published.