Grayscale Digital Large Cap Fund (GDLC) Seeks ETF Conversion as SEC Invites Public Comments

On October 31, COINOTAG reported that Nate Geraci, the president of The ETF Store, announced via X that the U.S. SEC has acknowledged the receipt of Grayscale Investments’ application to transition its Grayscale Digital Large Cap Fund (GDLC) into an ETF. This development invites public feedback as the SEC evaluates the conversion. Previously, on October 15, Grayscale submitted the application to convert this hybrid crypto fund, which holds assets including Bitcoin, Ethereum, Solana, XRP, and Avalanche. Notably, Grayscale has successfully transformed its Bitcoin and Ethereum products into ETFs. Presently, the GDLC fund, which trades over the counter, boasts an Assets Under Management (AUM) of $524 million. The fund’s composition consists predominantly of BTC (approximately 75%) and ETH (about 19%), with the remaining allocations in SOL, XRP, and AVAX, reflecting a focused approach to digital asset investing.