Grayscale pressures the SEC to allow its multi-cryptocurrency fund to launch.

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Grayscale is opposing the decision of the Securities and Exchange Commission (SEC) to suspend its multi-crypto fund, arguing that investors are "suffering" from this delay. In a letter to the SEC, Grayscale's lawyers urged the agency to comply with congressional regulations regarding the product approval timeline. They are also considering filing a request to lift the suspension order. Last week, the SEC approved the proposal to convert the fund into an ETF, but shortly thereafter suspended the decision for further review. The fund primarily consists of Bitcoin (80%) and Ethereum (11%). The SEC is currently reviewing several other cryptocurrency ETF proposals amid a more crypto-friendly regulatory environment since the beginning of the year.

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