Grayscale Submits Letter of Protest Against SEC's Suspension Order on its Digital Large Cap Fund ETF Conversion

On July 11 (UTC+8), according to Bloomberg analyst James Seyffart, Grayscale and its lawyers submitted a letter responding to the U.S. Securities and Exchange Commission (SEC)'s order to halt the ETF conversion of GDLC, arguing that the SEC has no right to do so. Prior to this news, the U.S. Securities and Exchange Commission (SEC) had suspended Grayscale's Digital Large Cap Fund's plan to convert to an exchange-traded fund (ETF) and placed it under further review. (Source: Bitpush) [MetaEra]