Grayscale Presses SEC to Approve GDLC Altcoin ETF

Grayscale has formally challenged the SEC’s pause on its Digital Large Cap (GDLC) spot altcoin ETF, which holds Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL) and Cardano (ADA). The SEC approved the GDLC altcoin ETF on July 1 but halted trading pending further review. In a legal complaint filed in the D.C. Circuit and a letter to the SEC, the asset manager argues this delay harms investors, breaches statutory timeframes and discriminates against altcoin ETFs compared with approved Bitcoin ETFs. GDLC’s composition is roughly 80% BTC, 11% ETH, 4.8% XRP, 2.8% SOL and 0.8% ADA. Grayscale says more than 100,000 retail investors risk losing built-in liquidity, transparency and compliance benefits. The firm demands that the SEC lift its freeze and greenlight the GDLC altcoin ETF on NYSE Arca, warning it will pursue further legal action if necessary. Traders are watching for the SEC’s next move, as the outcome could unlock billions in assets under management and set a key precedent for future altcoin ETF approvals.