The U.S. Securities and Exchange Commission has approved Grayscale's Digital Large Cap Fund conversion into a spot ETF.
The fund contains Bitcoin, Ethereum, XRP, Solana, and Cardano, with experts anticipating approvals for multiple crypto spot ETFs.
This decision reflects the SEC's increasing acceptance of regulated cryptocurrency investment products and investors' demand for exposure.
The approval will allow Grayscale's fund to trade on NYSE Arca and sets the stage for potential approvals of more crypto spot ETFs by the SEC in the near future.