Product and process, what was being approved and how

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Grayscale’s GDLC fund is benchmarked to the CoinDesk 5 Index, reflecting a diversified basket of digital assets
SEC issued a formal notice to the NYSE announcing a review of the delegated staff approval of Grayscale’s ETF conversion without identifying the requesting commissioner.
Grayscale’s Digital Large Cap Fund (GDLC) reported approximately $775 million in assets under management at the time of its proposed ETF conversion
The SEC approved Grayscale’s ETF conversion through delegated authority on an accelerated basis, without requiring a commissioner vote

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