The US Securities and Trade Fee (SEC) has printed Grayscale’s 19b-4 submitting for its Digital Giant Cap Fund within the Federal Register. This vital growth has formally kickstarted the US SEC’s overview course of for the asset supervisor’s utility to transform this fund into an ETF.
US SEC Publishes Grayscale’s Submitting In Federal Register
Grayscale introduced in a press launch that the US SEC has printed the NYSE’s 19b-4 submitting to checklist and commerce its Digital Giant Cap Fund as an Trade-Traded Product (ETP) within the Federal Register. This formally initiates the overview course of for the Fee to overview and presumably approve the applying. As famous within the press launch, this overview course of can take as much as 240 days earlier than the regulator should determine whether or not to approve or deny the applying.
If the US SEC approves the NYSE’s proposed rule change, it could mark the primary time {that a} nationwide securities alternate will checklist and commerce shares of multi-crypto asset ETPs.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto information author and editor who has lined subjects that reduce throughout DeFi, NFTs, good contracts, and blockchain interoperability, amongst others. Boluwatife has a knack for simplifying probably the most technical ideas and making it straightforward for crypto newbies to grasp. Away from writing, He’s an avid basketball lover and a part-time degen.
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