The SEC has put an indefinite pause on the approval of Grayscale's ETF that includes altcoins such as Solana, XRP, and Cardano, alongside Bitcoin and Ethereum. Although the SEC fast-tracked the conversion of Grayscale's Digital Large Cap Fund (GDLC) into an ETF, it also issued a stay on the approval, leading to confusion about the status of the fund's potential trading. Analysts speculate that the SEC may be waiting to establish guidelines for approving crypto ETFs before fully approving Grayscale's product. While Bitcoin and Ethereum spot ETFs have been approved, altcoins including Solana, XRP, and Cardano are still under review. Despite the current pause, analysts have expressed confidence that the approval of spot ETFs for these altcoins will likely happen by the end of the year. Additionally, internal politics within the SEC may be influencing the pace of approvals, with different divisions possibly pushing back on the initial approval order. Grayscale's GDLC fund currently has a significant emphasis on Bitcoin and Ethereum, with minimal exposure to the altcoins in question.

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