The US Securities and Exchange Commission (SEC) has published Grayscale’s 19b-4 filing for its Digital Large Cap Fund in the Federal Register. This significant development has officially kickstarted the US SEC’s review process for the asset manager’s application to convert this fund into an ETF.

US SEC Publishes Grayscale’s Filing In Federal Register

Grayscale announced in a press release that the US SEC has published the NYSE’s 19b-4 filing to list and trade its Digital Large Cap Fund as an Exchange-Traded Product (ETP) in the Federal Register. This formally initiates the review process for the Commission to review and possibly approve the application. As noted in the press release, this review process can take up to 240 days before the regulator must decide whether to approve or deny the application.

If the US SEC approves the NYSE’s proposed rule change, it would mark the first time that a national securities exchange will list and trade shares of multi-crypto asset ETPs.

The post Just In: US SEC Publishes Grayscale’s Digital Large Fund Cap Filing In Federal Register appeared first on CoinGape.

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Filed under: News - @ November 4, 2024 3:22 pm