PANews reported on July 2 that according to Cryptonews, the U.S. Securities and Exchange Commission's Division of Corporation Finance outlined in a notice issued on July 1 what crypto ETF issuers must include in their documents. The guidelines cover everything from how to calculate net asset value and how to select service providers to detailed descriptions of custody practices and potential conflicts of interest. The SEC stated that issuers must make targeted disclosures based on their specific structure, emphasizing the review of asset selection, custody, conflicts of interest, and ETF creation/redemption mechanisms. On the same day, the SEC approved Grayscale's request to convert its digital large-cap fund into a spot ETF.