The US SEC has yet to approve a Grayscale ETF that covers Bitcoin, Ethereum, and altcoins such as XRP, Solana, and Cardano

According to a report by Jinse Finance, the U.S. Securities and Exchange Commission (SEC) has not yet approved a Grayscale ETF that would allow trading of a basket including Bitcoin, Ethereum, as well as altcoins such as XRP, Solana, and Cardano. On Tuesday, the Wall Street regulator issued an order stating that there is “sufficient reason” to approve the conversion of the Grayscale Digital Large Cap Fund (GDLC) into a spot ETF on an expedited review basis. However, the order quietly included a letter from SEC leadership announcing that the effectiveness of the order would be stayed “until the Commission otherwise directs.” Bloomberg ETF analyst James Seyffart was the first to notice this “detail” on Wednesday afternoon.