The leaders of the United States Stock Exchange and Securities Commission are reviewing the recent approval of the agency of a gray scale effort to convert a background into a bottom quoted by exchange (ETF)He said a letter dated July 1.
The SEC allowed the Liquidation Gray Scale of the Grand Capitalization Digital Fund (GDLC)which owns $ 755 million in Bitcoin
Ethereum, XRP, Solana and Cardano, in an ETF through the delegated authority, which means that the SEC commissioners did not vote to approve the conversion, but that the agency staff gave the firm.
“This letter is to notify you that, in accordance with rule 431 of the commission’s practice rules, 17 CFR 201,431, the commission will review the delegated action,” said the letter, addressed to the New York Stock Exchange. “According to rule 431(my)The order of July 1, 2025 is suspended until the commission orders otherwise. “
The SEC said it would let the NYSE know “of any pertinent action taken by the commission.”
Any commissioner may request that a sec action be reviewed. In the past, the commissioners have asked to review the disapprobes of the ETF, for example. The letter did not indicate which commissioner or commissioners requested the review.
GDLC is compared to the Coendesk Coindesk 5 index.
Grayscale and Nyse spokesmen did not immediately return a comment request.
A SEC spokesman declined to comment on the letter.
UPDATE (July 2, 2025, 20:05 UTC): Add additional details, the SEC declines to the comments.
