Cryptocurrency asset manager Grayscale said its Digital Large Cap Fund ($GDLC) has now become a reporting firm to the U.S. Securities and Exchange Commission (SEC).
The company announced on July 12 that it has filed a Registration Statement on Form 10 with the SEC on behalf of its GDLC. The approval makes it the third SEC reporting product for the digital asset management firm. The fund joins the company’s Bitcoin Trust and Ethereum Trust as reporting products.
Grayscale also said it has publicly filed three additional Registration Statements on Form 10 with SEC. It includes Grayscale Bitcoin Cash Trust, Grayscale Ethereum Classic Trust, and Grayscale Litecoin Trust. The $GDLC fund comprises Bitcoin, Ethereum, Cardano, Chainlink, Bitcoin Cash and Litecoin.
GDLP will now file its reports and financial statements as 10-Qs and 10-Ks with the SEC along with the current Form-8k. The new form 10 filings are voluntary and are subject to SEC review.
“Grayscale aims to provide the investment community with a higher level of disclosure and reporting on top of the already stringent obligations to which our product adheres,” said Craig Salm, Vice president of Legal at Grayscale Investments.
Also Read: Grayscale Launched Five New Digital Currency Investment Trust
Additionally, accredited investors who purchased shares in the fund’s private placement will acquire an earlier liquidity opportunity. The holding period placement shares will be reduced from 12 months to 6 months under Rule 144 of the Securities Act.
Craig Salm noted the company’s new SEC filings show that there is “continued investor interest in gaining exposure to the growing digital currency ecosystem within existing regulatory frameworks, and that regulators continue to engage with market participants in the asset class.”
