Grayscale Submits Letter of Protest, Protesting SEC's Order to Suspend Conversion of its "Digital Large Cap Fund" ETF

On July 11, according to Bloomberg analyst James Seyffart, Grayscale and its lawyers submitted a letter responding to the U.S. Securities and Exchange Commission (SEC)'s "suspension" order on the ETF conversion of GDLC, arguing that the SEC has no right to do so.

Previous news reported that the U.S. Securities and Exchange Commission (SEC) has suspended Grayscale's Digital Large Cap Fund's plan to convert to an exchange-traded fund (ETF) and placed it under further review.