SEC Approves Grayscale’s GDLC ETF — Altcoin Spot ETFs May Be Next

TradingKey – On Tuesday, July 1, the U.S. Securities and Exchange Commission (SEC) officially approved the conversion of Grayscale’s Digital Large Cap Fund (GDLC) into a spot exchange-traded fund (ETF), marking a pivotal moment for altcoin-based investment products.

The newly approved GDLC ETF includes a diversified basket of digital assets:

- Bitcoin (BTC) – 80.2%

- Ethereum (ETH) – 11.4%

- Ripple (XRP) – 4.8%

- Solana (SOL) – 2.8%

- Cardano (ADA) – 0.8%

This is the first SEC-approved multi-asset crypto spot ETF in the U.S., and its approval is widely seen as a green light for future altcoin spot ETFs. Several issuers have already filed for single-asset ETFs tied to Solana, XRP, and Avalanche (AVAX), and GDLC’s success signals a more constructive regulatory stance.

Adding to the momentum, crypto journalist Eleanor Terrett reports that the SEC is working with exchanges to establish standardized listing procedures for crypto ETFs. Under the proposed framework, issuers could bypass the 19b-4 rule change process and instead file an S-1 registration, with ETFs going live 75 days after submission. This could dramatically accelerate the launch of altcoin spot ETFs across U.S. markets.