The Securities and Exchange Commission (SEC) is set to control the Grayscale Digital Large Cap Fund (GDLC) this week, with experts saying that green light is almost guaranteed.
ETF Store president Nate Geraci could potentially unlock the first US SpotS ETF path, predicting a “high chance” of approval and tracking key altcoins such as XRP, Solana (SoL) and Cardano (ADA).
Altcoin ETF stepping stone
Grayscale’s GDLC is a diverse trust holding Bitcoin (BTC), Ethereum (ETH), XRP, Solana and Cardano. The approval for converting to listed ETFs represents the SEC’s first Go-Amead for US products holding these specific altcoins within the ETF wrapper.
Posting on X on June 30th, Geraci argued that regulatory involvement, as evidenced by the submission of the S-3 form, amended last Thursday, showed serious consideration.
He highlights regulatory loopholes that allow up to 15% of ETF holdings to be private assets, making some issuers “creative” beyond the limits.
As XRP, SOL and ADA account for less than 10% of the GDLC portfolio, Geraci explained that excluding them is inconsistent with the Securities Act of 1933. He also believes GDLC will offer a low-risk “test run” for the SEC before “a slow step into other assets.”
“About *high potential *this is approved,” the analyst wrote. “Then, there will be approvals for individual spot ETFs such as XRP, SOL, and ADA.”
Regulation thawing
The expected clearance follows a series of procrypt developments in the United States. President Donald Trump’s industry embrace has bold asset managers, with Altcoin ETF submissions surged since early 2025, including standalone XRP, SOL and ADA applications from companies such as WisdomTree, 21Shares and Vaneck.
Grayscale itself has submitted separate proposals to convert XRP and SOL trust into Spot ETFs. This is an action that was recently considered dead upon arrival. In February, the SEC confirmed the proposal for investment giant Solana ETF. This is called “baby step, but notable development,” Bloomberg analyst Eric Bulknuts.
Additionally, Trump Media, one of the companies connected to the president, has some skin in the game after submitting Crypto.com as a custodian to Spot Bitcoin and Ethereum ETF.
Meanwhile, institutional demand for such products has skyrocketed, with Spot BTC ETFs attracting more than $2.2 billion inflows last week. This will result in a net inflow for seven consecutive weeks, pushing the cumulative total to just under $50 billion per data from SoSovalue.
Positive experts in this year’s Crypto Altcoin ETF: Are there any benefits for XRP, ADA, and SOL? It first appeared in Cryptopotato.
