Grayscale Investments, the biggest digital asset manager has announced that Grayscale’s Digital Large Cap Fund has been approved to become an SEC-reporting product.
The registration statement on Form 10 was filed with the Securities and Exchange Commission earlier this year.
The Fund is Grayscale’s “first diversified digital currency investment fund” to be registered with the Securities Exchange Commission under Section 12(g) of the Securities Exchange Act of 1934.
Craig Salm, the Vice President of Legal at Grayscale Investment said,
“We hold our products to a higher standard because this is what investors want and what we believe they deserve. Events such as the 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…”
Grayscale now has 3 SEC reporting products – Grayscale Bitcoin Trust and GrayscaleEthereum Trust, and the latest Grayscale Digital Large Cap Fund.
To add to this list, Grayscale has also announced filing three new Registration Statements on Form 10 with the SEC for Grayscale Bitcoin Cash Trust, Grayscale Ethereum Classic Trust, and Grayscale Litecoin Trust.
This move is referred to as a milestone in leading towards its aim to move digital currency investment products ahead through the product development pipeline. As stated in an April 2021 blog post about Grayscale’s strategy to introducing digital currency ETFs.
The digital large-cap fund is a weighted collection of some of the top tokens in terms of market capitalization. The majority of its holdings is bitcoin(67.49%) and ether(25.35). The remaining holdings are in Cardano, bitcoin cash, litecoin, and chainlink, which were all added earlier this month.