Grayscale's large-cap fund completes SEC registration, registers three additional trust funds to compete in the ETF transformation race!

Grayscale, a digital currency investment firm, has announced that its Digital Large Cap Fund (GDLC) has become the third cryptocurrency product to complete registration with the SEC, following GBTC and ETHE.

Following GBTC, ETHE Rules

Grayscale announced via a press release that the Form 10 submitted to the SEC on 10/2 last year has been approved. Although GBTC and ETHE were also approved by the SEC in January and October last year and completed SEC registration, Grayscale emphasized:

GDLC is the first investment fund composed of a diversified digital currency portfolio and completed SEC registration under Section 12(g) of the 1934 Securities Exchange Act.

Craig Salm, Grayscale's Deputy General Counsel, stated that Grayscale is committed to achieving a higher level of transparency to meet the standards of their customers, which is well-deserved.

As of the close on 7/9, the GDLC fund portfolio breakdown is as follows, with assets totaling $348 million:

• Bitcoin BTC: 67.49%
• Ethereum ETH: 25.35%
• Cardano ADA: 4.30%
• Bitcoin Cash BCH: 1.03%
• Litecoin LTC: 0.96%
• Chainlink LINK: 0.87%

Registration of Three Additional Trust Funds

In addition to GDLC, Grayscale has also registered three additional trust funds:

• Bitcoin Cash Trust
• Ethereum Classic Trust
• Litecoin Trust

The completion of registration for GDLC signifies it as the first diversified crypto fund investment tool targeting traditional investors that requires reporting to the SEC.

Furthermore, once GDLC has been a reporting company for 90 days and meets the requirements of Section 144 of the Securities Exchange Act, the holding period for private shares will be reduced from one year to 6 months.

The article also mentions Grayscale's intention in April for GBTC to transition into a Bitcoin ETF and emphasizes that the compliance measures taken are part of the ETF roadmap.