Grayscale Investments — the world’s largest digital asset manager — has registered its Digital Large Cap Fund with the U.S. Securities and Exchange Commission following the filing of a registration statement Form 10 last year.
- The company has also announced it is filing three additional registration statements via the same form for the Grayscale Bitcoin Cash, Ethereum Classic and Litecoin trusts. The company already has two SEC reporting products: its Bitcoin and Ethereum trusts.
- The registration brings increased SEC reporting obligations in line with the Exchange Act, while allowing accredited investors increased access to liquidity in six months rather than 12 under Rule 144 of the Securities Act of 1933, among other benefits.
- Cryptocurrency trusts such as Grayscale’s allow for the trading of shares in trusts holding relevant tokens, such as Bitcoin and Ethereum. They grant exposure to the crypto market with the functionality of trading on stock exchanges.
- The Digital Large Cap Fund grants access to a range of different assets under one product. As of July 9, the components of the fund were: 67.49% Bitcoin, 25.35% Ethereum, 4.30% Cardano, 1.03% Bitcoin Cash, 0.96% Litecoin and 0.87% Chainlink.