The U.S. Securities and Exchange Commission (SEC) is currently reviewing Grayscale's attempt to convert its Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF). This review follows the agency's prior allowance for Grayscale to uplist the fund, which manages approximately $755 million in assets comprising Bitcoin, Ethereum, XRP, Solana, and Cardano. The SEC's decision was initially made by staff through delegated authority without a formal vote from the commissioners. However, a letter from the SEC stated that this decision is now under review, as any commissioner has the right to request a review of SEC actions. During this review process, the order for the conversion is stayed until the Commission decides otherwise. GDLC is currently benchmarked to CoinDesk's CoinDesk 5 Index. The managing editor for CoinDesk, Nikhilesh De, covered regulatory developments extensively, including the FTX coverage that won him recognition in the journalism field.

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