James Seyffart and Eric Balchunas, Bloomberg analysts, projected SEC approval for crypto fund conversions like GDLC and BITW, noting that small allocations to altcoins could still be allowed even without explicit approval for each asset

Quotes that support claims

Bloomberg Intelligence analysts James Seyffart and Eric Balchunas wrote in a note last month that they expected the SEC to greenlight the conversions of GDLC — as well as the Bitwise 10 Crypto Index Fund (BITW) — to ETFs by the July 2 deadline.

Having only small allocations to alternative coins might help their conversion bids even if the SEC hasn’t individually approved each asset for an ETF,” the Bloomberg analysts previously explained.