SEC Approves Grayscale’s Diversified Crypto ETP with Surprising Inclusions

The Securities and Exchange Commission has granted approval to Grayscale’s application for a multi-crypto ETP, a move that signals a potentially significant shift in the agency’s approach to non-Bitcoin digital assets.

Notably, the approved Grayscale Digital Large Cap Fund (GDLC) includes XRP, Solana (SOL), and Cardano (ADA)—three assets that the SEC has previously targeted in high-profile lawsuits alleging they are unregistered securities.

The approval, praised by Grayscale CEO Peter Mintzberg, comes just months after the agency delayed its decision for further review in July. This suggests evolving negotiations between regulators and the industry, potentially setting a precedent for the classification of other cryptocurrencies.