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The SEC delays approval of Grayscale's digital large-cap fund's rule change to convert to a spot ETF.
On February 1st, according to market news, the U.S. Securities and Exchange Commission (SEC) has postponed the approval of Grayscale's Digital Large Cap Fund to convert into a Spot ETF. The announcement states: 'In accordance with Section 19(b)(2) of the Securities Act, the Commission has designated an extended review period until December 17, 2024, to determine whether to approve the proposed rule change, disapprove of the change, or initiate further proceedings to determine whether to disapprove of the change.'