Genereal rule of thumb is that you can use the fuses' 1/2 the AC rating in a DC application. The exception being is the slew rate is 25ms or greater. In other words if, from 0-FLA it takes more that, you need to adjust for that.
32volts DC is an old UL standard for the auto industry and electronic fuses.
In the last 5-10 years the telephone industry (Bell-core-standard) has called out for DC protection, due to massive batteries being used to hold up power, in case of a power outtage. (due to a fire in Chicago (hindsdale fire)
Carl, in his post, stated that it is harder to inturrupt a fault in DC than AC due to DC not crossing through 0, which is true.
Another reason that a fuse may have a 120volt AC rating and a 32volt DC rating is that the fuse has not been tested any higher in the DC area, and approved by UL.
Some fuses will have a equal AC & DC rating, it all depends on if the manufacturer has tested that fuse for a specific End User to fulfill a requirement.
Generally the 32volt DC is a standard default rating.
Just my $.02