Hold onto your top hats and spectacles, dear reader! The mighty US Securities and Exchange Commission (SEC) has done the unthinkable-they’ve given a thunderous nod to the first-ever multi-asset cryptocurrency exchange-traded product (ETP) in the good ol’ USA! Enter Grayscale’s Digital Large Cap Fund (GLDC), ready to prance onto the big stage.
This cheeky little fund isn’t just a one-trick pony-it’s packed with five of the world’s most glittery crypto gems: Bitcoin (BTC), Ether (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA). Think of it as the deluxe candy box of digital coins, except you don’t have to buy five separate candies and risk getting a weird flavor!
What makes this ETP so deliciously devilish? Well, instead of making traditional investors dive into the confusing jungle of crypto exchanges or fiddle with complicated wallets, it hands them a shiny, easy-peasy golden ticket to the crypto festival. No hacking, just plain old investing-jazz hands included 🤹♂️.
Meanwhile, the rumor mill churns louder than a Wonkavator! The filing hints we might be on the brink of an altcoin party-yes, an alt-season! Imagine altcoins putting on their dancing shoes, stealing the spotlight from Bitcoin, the usual star of the show.
On August 15th, the wizards at Coinbase peered into their crystal charts and boldly predicted a “full-scale altcoin season” kicking off in September. Ready your popcorn 🍿!
“We think current market conditions now suggest a potential shift towards a full-scale altcoin season as we approach September,” declared David Duong, Coinbase Institutional’s global head of research, adding his scholarly two cents in a monthly report.
The SEC’s New Shortcut: Grayscale’s Crypto ETP Zooms to Approval
The SEC has waved its magic wand, waving away the old slowpoke review process! Grayscale’s dazzling product got the green light thanks to sparkling new generic listing standards designed to put crypto ETFs on the fast track through exchanges like Nasdaq, NYSE Arca, and Cboe BZX.
“Grayscale Digital Large Cap Fund $GDLC was just approved for trading along with the Generic Listing Standards,” crowed Grayscale’s CEO, Peter Mintzberg, on the magical land of X, promising the team is hurrying like Oompa Loompas to launch this dazzling contraption “expeditiously.”
“The Grayscale team is working expeditiously to bring the FIRST multi #crypto asset ETP to market with Bitcoin, Ethereum, XRP, Solana, and Cardano.”
Mintzberg also sprinkled a little gratitude fairy dust towards the SEC Crypto Task Force, praising their “unmatched efforts in bringing the regulatory clarity our industry deserves.”
Ah yes, the mysterious SEC Crypto Task Force! Born on January 21st under the watchful eye of acting Chair Mark Uyeda, and serenaded by Commissioner Hester Peirce-affectionately dubbed “Crypto Mom”-this merry band is crafting a sparkling new rulebook for the wild crypto frontier.
This is quite the pivot from the olden days of SEC boss Gary Gensler, who played the stern school principal handing out lawsuits left and right like Halloween candy. Ripple Labs, Terraform Labs, Binance, Coinbase, Kraken-you name it, they got a subpoena. Those courtroom dramas drained fortunes faster than a greedy Gobblefunk machine gobbles goodies.
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2025-09-18 12:44