Grayscale Submits Letter of Protest, Challenges SEC's "Digital Large Cap Fund" ETF Conversion Halt Order

July 11th, According to Bloomberg analyst James Seyffart, Grayscale and its lawyers sent a letter in response to the U.S. Securities and Exchange Commission (SEC)'s "halt" order regarding GDLC's ETF conversion, arguing that the SEC does not have the authority to do so.

Prior to this news, the U.S. Securities and Exchange Commission (SEC) had halted the conversion of the Grayscale Digital Large Cap Fund into an Exchange-Traded Fund (ETF) and placed it under further review.