{"id":493036,"date":"2021-05-13T08:34:28","date_gmt":"2021-05-13T12:34:28","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/grayscale-digital-large-cap-fund-files-form-10-with-sec\/"},"modified":"2021-05-13T08:34:28","modified_gmt":"2021-05-13T12:34:28","slug":"grayscale-digital-large-cap-fund-files-form-10-with-sec","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/grayscale-digital-large-cap-fund-files-form-10-with-sec\/","title":{"rendered":"Grayscale Digital\u00ae Large Cap Fund Files Form 10 with SEC"},"content":{"rendered":"
\n

New York, May 13, 2021 (GLOBE NEWSWIRE) — Grayscale Investments<\/u>\u00ae<\/u><\/a>, the world\u2019s largest digital currency asset manager and manager of Grayscale<\/u>\u00ae<\/u> Digital Large Cap Fund<\/u><\/a> (OTCQX: GDLC<\/u><\/a>), today announced that it has publicly filed a Registration Statement on Form 10 with the Securities and Exchange Commission (SEC) on behalf of Grayscale Digital Large Cap Fund.*<\/p>\n

This is a voluntary filing that is subject to SEC review. If the Registration Statement becomes effective, it would designate the Fund as an SEC reporting company and register its shares pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended (the Exchange Act).** It would also designate the Fund as Grayscale\u2019s third digital currency investment vehicle to become an SEC reporting company, following Grayscale\u00ae Bitcoin Trust as the first and the Grayscale\u00ae Ethereum Trust as the second in the U.S.\u00a0<\/p>\n

Additionally, if the Registration Statement become effective, accredited investors who purchased shares in the Fund\u2019s private placement would have an earlier liquidity opportunity, as the statutory holding period of private placement shares would be reduced from 12 months to 6 months under Rule 144 of the Securities Act of 1933, as amended (the Securities Act).***\u00a0<\/p>\n

The Fund currently publishes quarterly and annual reports as well as audited financial statements pursuant to the OTC Markets Alternative Reporting Standard (ARS). Should the Registration Statement become effective, the Fund would file these reports and financial statements as 10-Qs and 10-Ks with the SEC, along with current reports on Form 8-K, in addition to complying with all other obligations under the Exchange Act.\u00a0\u00a0\u00a0<\/p>\n

The Fund is an investment product that allows investors to more effectively implement strategic and tactical asset allocations that incorporate digital assets by using the Fund\u2019s shares. This action reflects Grayscale\u2019s commitment to move Grayscale Digital Large Cap Fund forward through the product pipeline described in a recent blog post<\/u><\/a> about Grayscale\u2019s roadmap to launching digital currency ETFs.\u00a0<\/p>\n

For more information, please refer to the Form 10 filing<\/u><\/a> and the Information Statement<\/u><\/a> as well as the FAQ page<\/u><\/a>.\u00a0\u00a0\u00a0<\/p>\n

\n *The Fund offers a private placement to accredited investors. To date, the Fund has not met its investment objective and the shares quoted on OTCQX have not reflected the value of digital assets held by the Fund, less the Fund\u2019s expenses and other liabilities, but have instead traded at a premium over such value, which at times has been substantial.<\/i>\n <\/p>\n

\n **This voluntary filing should not be confused as an effort to classify Grayscale Digital Large Cap Fund as an exchange traded fund (ETF). The structure of the Fund will not change and it will continue to not operate a redemption program nor trade on a national securities exchange.\u00a0\u00a0\u00a0<\/i>\n <\/p>\n

\n ***The holding period reduction would go effective after Grayscale Digital Large Cap Fund has been a reporting company for at least 90 days and has satisfied the other requirements under Rule 144 of the Securities Act.\u00a0<\/i>\n <\/p>\n

\n This press release is not an offer to sell or the solicitation of an offer to 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.\u00a0<\/i>\n <\/p>\n

\n About Grayscale Investments<\/b>
\n \u00ae<\/b>
\n \u00a0\u00a0<\/b>
\n
Grayscale Investments is the world\u2019s largest digital currency asset manager, with more than $53B in assets under management as of May 12, 2021. Through its family of investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale\u2019s products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. Grayscale products are distributed by Genesis Global Trading, Inc. (Member FINRA\/SIPC, MSRB Registered). For more information, please visit grayscale.com<\/u><\/a> and follow @Grayscale<\/u><\/a>.<\/p>\n


\n
\n \n <\/div>\n

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press@grayscale.co <\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
New York, May 13, 2021 (GLOBE NEWSWIRE) — Grayscale Investments\u00ae, the world\u2019s largest digital currency asset manager and manager of Grayscale\u00ae Digital Large Cap Fund (OTCQX: GDLC), today announced that it has publicly filed a Registration Statement on Form 10 with the Securities and Exchange Commission (SEC) on behalf of Grayscale Digital Large Cap Fund.* This is a voluntary filing that is subject to SEC review. If the Registration Statement becomes effective, it would designate the Fund as an SEC reporting company and register its shares pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended (the Exchange Act).** It would also designate the Fund as Grayscale\u2019s third digital currency investment vehicle to become an SEC reporting … <\/p>\n
Continue reading “Grayscale Digital\u00ae Large Cap Fund Files Form 10 with SEC”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-493036","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGrayscale Digital\u00ae Large Cap Fund Files Form 10 with SEC - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/grayscale-digital-large-cap-fund-files-form-10-with-sec\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grayscale Digital\u00ae Large Cap Fund Files Form 10 with SEC - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"New York, May 13, 2021 (GLOBE NEWSWIRE) — Grayscale Investments\u00ae, the world\u2019s largest digital currency asset manager and manager of Grayscale\u00ae Digital Large Cap Fund (OTCQX: GDLC), today announced that it has publicly filed a Registration Statement on Form 10 with the Securities and Exchange Commission (SEC) on behalf of Grayscale Digital Large Cap Fund.* This is a voluntary filing that is subject to SEC review. If the Registration Statement becomes effective, it would designate the Fund as an SEC reporting company and register its shares pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended (the Exchange Act).** It would also designate the Fund as Grayscale\u2019s third digital currency investment vehicle to become an SEC reporting … Continue reading "Grayscale Digital\u00ae Large Cap Fund Files Form 10 with SEC"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/grayscale-digital-large-cap-fund-files-form-10-with-sec\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-13T12:34:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIzNTgwMCM0MTgyMjU5IzIxODE5NTI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/grayscale-digital-large-cap-fund-files-form-10-with-sec\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/grayscale-digital-large-cap-fund-files-form-10-with-sec\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Grayscale Digital\u00ae Large Cap Fund Files Form 10 with SEC\",\"datePublished\":\"2021-05-13T12:34:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/grayscale-digital-large-cap-fund-files-form-10-with-sec\\\/\"},\"wordCount\":657,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/grayscale-digital-large-cap-fund-files-form-10-with-sec\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODIzNTgwMCM0MTgyMjU5IzIxODE5NTI=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/grayscale-digital-large-cap-fund-files-form-10-with-sec\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/grayscale-digital-large-cap-fund-files-form-10-with-sec\\\/\",\"name\":\"Grayscale Digital\u00ae Large Cap Fund Files Form 10 with SEC - 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