SEC Had Approved It Yesterday, But Suspended It Today – Affecting Bitcoin, XRP, and 4 Other Altcoins

The U.S. Securities and Exchange Commission (SEC) has reviewed the approval decision made by NYSE Arca to list the publicly traded shares of Grayscale Digital Large Cap Fund LLC on July 1, 2025. According to the SECs decision, the approval of the Grayscale fund has been temporarily suspended.

The SEC had approved Grayscale's fund listing pursuant to NYSE Arca's amendment to Rule 8500-E through an expedited approval process under the delegated authority of its Office of Trading and Markets. However, the Commission has decided to reconsider the decision made under this authority in accordance with 17 CFR 201.431.

Grayscale Digital Large Cap Fund LLC shares were designed to trade on digital assets and were planned to be offered to investors on NYSE Arca. However, according to the SECs official notice, this approval process has been paused and the listing will not proceed until the Commission makes a final decision.

The Commission Secretariat announced that it will inform NYSE and relevant parties about any new decisions to be made during the review process.

The fund in question consisted of approximately 80% Bitcoin (BTC), 11% Ethereum (ETH), and single-digit percentages of Solana (SOL), Cardano (ADA), and XRP.

*This is not investment advice.