Copy link
Increase text size
Decrease text size
Link copied

Grayscale to soon launch public trading of its diversified cryptocurrency fund

Mon, 25 Nov 2019, 05:50 am UTC

Grayscale Investments has announced that it will soon launch the public trading of Grayscale Digital Large Cap Fund (DLC).

In a press release, the firm said that DLC, which was launched in 2018, is an open-ended fund that will enable investors to gain exposure to the price movement of a diversified basket of large-cap digital currencies. As of Oct. 31, the fund included 80.6% Bitcoin (BTC), 9.2% Ethereum (ETH), 6.0% XRP, 2.5% Bitcoin Cash (BCH), and 1.7% Litecoin (LTC).

Last month, Grayscale had obtained regulatory approval from FINRA to publicly quote the shares of this diversified crypto fund. It has now announced that DLC has received DTC eligibility, adding that eligible Shares will be available to trade on the OTCQX Best Market, operated by OTC Markets Group, under the symbol ‘GDLCF.’

“GDLCF is the first publicly traded security in the U.S. deriving value from a diverse selection of digital currencies,” Grayscale said in an online post.

DLC targets coverage of the upper 70% of the digital currency market with fund components evaluated on a quarterly basis, beginning on the first business day of January, April, July, and October of each year. It may also hold “cash and assets arising as a result of a fork, airdrop, or similar event from time to time,” the release said.

It is Grayscale’s fourth publicly-quoted investment product and follows the launch of Grayscale Bitcoin Trust (GBTC), Grayscale Ethereum Trust (ETHE), and Grayscale Ethereum Classic Trust (ETCG).

“A well-constructed, diversified investment product like Grayscale Digital Large Cap Fund is an important tool for investors seeking to build more balanced portfolios with higher risk-adjusted returns,” said Grayscale’s Director, Investments and Research, Matthew Beck.

In addition to diversified offering, Grayscale provides investors access to digital currency asset class through its family of single-asset investment products, providing exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC).

Last week, Grayscale announced that it has filed a Registration Statement on Form 10 with the Securities and Exchange Commission (SEC) on behalf of Grayscale Bitcoin Trust. If deemed effective, it would designate the Trust as a reporting company under the SEC.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,374.86 (-3.40%)
  • Ethereum (ETH) $162.40 (-3.37%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $323.14 (-6.41%)
  • Bitcoin SV (BSV) $255.63 (-16.39%)
  • Bitcoin (BTC) $8,374.86 (-3.40%)
Jan 23, 2020 (Thursday)
13:26
Amun lists inverse bitcoin ETP on SIX Swiss Exchange
12:32
World Economic Forum creates framework to help central banks design and deploy CBDC
11:52
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:52
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:24
Four Belgian banks including BNP Paribas, ING to share corporate KYC data using blockchain
10:34
Crypto Technicals: XRP/USD dives over 4%, more weakness on break below 21-EMA support (0.2231)
10:34
Dubai's government-owned utility company and Siemens organize blockchain lectures and seminars
10:18
SportsCastr to reward viewers with own cryptocurrency 'FanChain'
09:48
Hacker Noon deploys first blockchain feature after leaving Medium
09:10
Hyperledger launches community group to leverage blockchain to meet climate goals
08:32
Crypto Technicals: ETH/USD extends weakness below 200H MA, eyes 110-EMA support at 159.52
07:41
Deloitte sees Facebook's Libra as “bold new proposition” to create global financial infrastructure
07:06
Square receives U.S. patent for cryptocurrency payment network
07:00
Crypto Market - Asian Session Wrap - 23rd January 2020
06:50
Kik technical advisor to appear for deposition in ongoing Kin ICO case with SEC
05:40
Grayscale continues to support ethereum classic developers
05:40
Crypto Technicals: BTC/USD turns bearish near-term, eyes 21-EMA support at 8318
05:01
Central banks of Hong Kong and Thailand complete DLT trial for cross-border funds transfer
Jan 22, 2020 (Wednesday)
13:12
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
13:12
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft