Plot thickens on Grayscale Digital Large Cap ETF... SEC Division of Trading & Markets issued approval order on July 1st. *Should* have been the end of it & GDLC would be live. But that approval order was then stayed. Grayscale attorneys aren’t having it. Sent letter to SEC.

They essentially refer to the stay as “an obviously improper end-run around the framework established by Congress”... They also say “Grayscale, the Exchange and the Fund’s current investors are suffering harm as a result of the delay in public launch of the Fund”. I agree.