Grayscale sought SEC approval to convert its multi-crypto fund into spot ETF. Will inclusion of SOL and other alts derail the application?
On the 14th of October, crypto asset manager Grayscale applied with the U.S. SEC to convert its multi-crypto fund into an ETF.Crypto index ETF race
However, at the moment, only BTC and ETH are deemed commodities by the SEC. In fact, other issuers that have applied similarBut Grayscale has included even XRP, which had no regulatory clarity given its ongoing case with the SEC. “Feels like issuers are piling in on the “change in administration” bet…Basically lining-up in the event of a Trump win w/ the assumption that admin would be much more crypto-friendly.”“Its approval could potentially pave the way for future altcoin ETFs, such as SOL, XRP, and AVAX, whose outlook for ETF eligibility has remained unclear under the current SEC.”
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