
cyber
@vcococ
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Altcoin ETFs to Make a Move in the Next Few Days?
The SEC is expected to make a decision on Grayscale's proposal to convert the Digital Large Cap Fund (GDLC) into an ETF on July 2. GDLC currently manages ~$730M, with over 90% of its assets in BTC and ETH, the rest in XRP, SOL, and ADA.
According to Bloomberg, the possibility of this ETF being approved is very high because altcoins account for too small a proportion to cause concern. If approved, GDLC will be the first multi-asset crypto ETF and act as a test run for a series of altcoin ETFs in the future.
The optimistic scenario is that after GDLC is green-lighted, separate spot ETFs such as XRP, SOL, ADA, etc. will be considered one by one and may soon be approved in the near future. 0 reply
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