Grayscale Diversified Crypto Fund becomes SEC Reporting Company
Cryptocurrency asset manager Grayscale Investments solidifies its commitment to digital currency investment products with a new filing with the US Securities and Exchange Commission (SEC).
The company announced Monday that it has filed a Form 10 registration statement with the SEC on behalf of the Grayscale Digital Large Cap Fund (GDLC) to become an SEC reporting firm.
Grayscale’s Diversified Digital Currency Fund will now file its financial statements and financial statements in 10-Q and 10-K with the SEC, along with updated reports on Form 8-K, in addition to “complying with all other obligations” under the Exchange Act. said the company.
In addition, accredited investors who purchase shares in the Fund’s private placement will have an earlier opportunity to obtain liquidity as the applicable holding period for the private placement will be reduced from 12 months to 12 months.
Grayscale also announced that it has publicly filed three additional Form 10 registrations with the SEC on behalf of other funds, including Grayscale Bitcoin Cash Trust, Grayscale Ethereum Classic Trust, and Grayscale Litecoin Trust. The company already has two SEC reporting products, including Grayscale Bitcoin Trust and Grayscale Ethereum Trust, the company noted. Grayscale added, “The new Form 10 is voluntary and subject to SEC review.
Connected: The Morgan Stanley Investment Fund owns 28.2k shares in the Grayscale Bitcoin Trust, according to the SEC
Craig Salm, Grayscale’s vice president of legal affairs, noted that under the current regulatory framework, the company’s new SEC filings show “continued investor interest in exposure to the burgeoning digital currency ecosystem” and that regulators continue to be market participants for class wealth attract.
Launched in 2018, GDLC is an open-ended fund that offers market capitalization-based exposure to six major cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Cardano (ADA), Bitcoin Cash (BCH), Litecoin (LTC) and Chain Link ( LINK). As of July 1, each share of the GDLC basket comprises 67.47% of the Bitcoin market, 25.39% of Ether and 4.26% of ADA.