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Now Publicly Quoted: Grayscale’s Diversified Investment Product

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rading will soon commence for publicly-quoted shares of Grayscale® Digital Large Cap Fund under symbol: GDLCF. What does this mean?

 

  1. GDLCF is the first publicly traded security in the U.S. deriving value from a diverse selection of digital currencies. GDLCF will trade on the OTCQX® Best Market under symbol: GDLCF.
  2. Investors may buy and sell freely tradable Grayscale Digital Large Cap Fund shares through their investment accounts in the same manner as they would other unregistered securities under symbol: GDLCF.
  3. You can soon gain exposure to a basket of large-cap digital currencies without the challenges of buying, storing, and safekeeping digital currencies directly.

“Digital assets represent a new and important alternative source of return for investors. Their unique market opportunities, use cases, and risk exposures can also enhance diversification. 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. Beck’s report and analysis on portfolio performance can be reviewed in The Modern Portfolio.

 

Launched by Grayscale in 2018, DLC is an open-ended fund that provides market cap-weighted exposure to the upper 70% of the digital currency asset class.* As of October 31, 2019, DLC’s Fund Components were a basket of 80.6% Bitcoin (BTC), 9.2% Ethereum (ETH), 6.0% XRP, 2.5% Bitcoin Cash (BCH), and 1.7% Litecoin (LTC).

 

As GDLCF has received FINRA approval for public quotation and DTC eligibility, Shares of GDLCF will soon be available to all investors with access to U.S. securities.**

 

GDLCF is Grayscale’s fourth publicly quoted investment product. Grayscale® Bitcoin Trust (OTCQX: GBTC), Grayscale® Ethereum Trust (OTCQX: ETHE), and Grayscale® Ethereum Classic Trust (OTCQX: ETCG) are also publicly quoted and available to all investors with access to U.S. securities. Investors can find current financial disclosure and Real-Time Level 2 quotes for Shares of DLC on www.otcmarkets.com/stock/GDLCF/overview.

 

For more information, please review our press release on this announcement here: https://gryscl.co/2KLMNJj.

 

*The composition of DLC is evaluated on a quarterly basis and may also hold cash and assets arising as a result of a fork, airdrop, or similar event from time to time. DLC will not generate any income and regularly distributes Fund Components to pay for its ongoing expenses. Therefore, the amount of Fund Components represented by each Share gradually decreases over time. In accordance with the Fund’s construction criteria established by Grayscale, Fund Components are evaluated on a quarterly basis, beginning on the first business day of January, April, July, and October of each year. Forks, airdrops, and similar events are evaluated on a case-by-case basis. This is done in consultation with the Fund’s legal advisors, tax consultants, and custodian. There are likely to be operational, tax, securities law, regulatory, legal, and practical issues that significantly limit, or prevent entirely, the Fund’s ability to realize a benefit from any forks, airdrops, or similar events. DLC is not registered with the Securities and Exchange Commission and is not subject to disclosure and certain other requirements mandated by U.S. securities laws.

 

**Because the Grayscale Digital Large Cap Fund private placement does not currently operate a redemption program, there are no assurances that the value of the Shares will approximate the value of the underlying assets held by the Fund when traded on a secondary market, like OTCQX. As such, the shares of the public quotation may trade at a substantial premium over, or substantial discount to, the value of the assets held by Grayscale Digital Large Cap Fund.

 

This article is not an offer to sell or the solicitation of an offer to sell or buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

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