Crypto News and Exchange Portal

Grayscale Says Institutional Fund Featuring Bitcoin, Ethereum, Cardano and Additional Altcoins Now Registered With SEC


Digital asset management giant Grayscale has reached a new milestone with the Securities and Exchange Commission (SEC).

In a new filing, Grayscale receives approval to launch its Large Cap Fund (GDLC) as an SEC-reporting company after initially seeking approval in May. 


The Large Cap Fund contains six top crypto assets, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Chainlink (LINK), and Cardano (ADA).

This is Grayscale’s third digital asset fund to become an SEC-reporting company, joining the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE). 

Vice president of legal at Grayscale, Craig Salm, says the move will give investors a high level of transparency and confidence in the Large Cap Fund.

We hold our products to a higher standard because this is what investors want and what we believe they deserve. Events such as the [Large Cap] Fund becoming our third SEC reporting company, and the additional Form 10 filings, signal that there is continued investor interest in gaining exposure to the growing digital currency ecosystem within existing regulatory frameworks, and that regulators continue to engage with market participants in the asset class.”

Given the approval, the Large Cap Fund will now have to start filing quarterly (10-Qs) and annual reports (10-Ks) along with its GBTC and ETHE funds.

Additionally, qualified investors who purchased shares in the Fund’s private placement will have the required holding period reduced from 12 months to six months under Rule 144 of the Securities Act of 1933.

As of July 9th, the Large Cap Fund contained 67.49% BTC, 25.35% ETH, 4.30% ADA, 1.03% BCH, 0.96% LTC, and 0.87% LINK.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Credit: Source link

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More

Translate »