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homerun token
Home Cryptocurrencies

SEC Approves Grayscale’s Digital Large Cap Fund

LollyCrypt by LollyCrypt
10 months ago
in Cryptocurrencies, Cryptocurrency Exchange
Reading Time: 2 mins read
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American digital asset giant, Grayscale has received SEC approval for its Digital Large Cap Fund now making it an SEC-registered entity.
SEC Approves Grayscale's Digital Large Cap Fund

Grayscale has received its first SEC approval outside of Bitcoin and Ethereum. The approval was received today, according to the world’s largest digital asset manager.

Prior to this update, only Bitcoin and Ethereum trust funds had received approval. OTCMKTS: GDLC is the OTC market ticker for the trust’s shares.

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Because the trust is an SEC-reporting firm, the lock-up period for the trust’s shares will be reduced from twelve to six months. In addition, the trust will be required to file quarterly and annual disclosures using forms 10-K and 10-Q.

The Digital Large Cap Fund’s marketability will improve as a result of the regulatory clearance, especially among institutional investors apprehensive of legal concerns.

Grayscale has also filed three new Registration Statements with the SEC for each of its Bitcoin Cash, Ethereum Classic, and Litecoin independent trusts, requesting the same clearance.

Grayscale has accelerated its expansion into other cryptocurrencies following the success of its GBTC Trust Fund. Polygon and Solana are two of the most recent additions to its list of tokens under consideration for new trust funds.

Tags: bitcoinethereumGDLCGrayscalesec

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