The US SEC has suspended the plan to convert grayscale digital large cap funds into ETFs and will further review it

According to Foresight News, CoinDesk reported that the US Securities and Exchange Commission (SEC) has suspended plans to convert Grayscale's Digital Large Cap Fund into an ETF and placed it under further review. Foresight News previously reported that according to The Block, the US SEC has "accelerated" the rule change proposal proposed by the New York Stock Exchange's Arca, allowing Grayscale Digital Large Cap Fund LLC's shares to go public for trading. The SEC stated that, in accordance with Section 19 (b) (2) of the Exchange Act, it now orders accelerated approval of the proposed rule change (SR-NYSEARCA-2024-87) (as amended by Amendment 1). The fund is currently traded off exchange for qualified investors, mainly composed of Bitcoin, accounting for nearly 80%, ETH accounting for about 11%, and Solana, Cardano, and XRP also included, accounting for single digits.