Grayscale Lists Its Digital Large Cap Fund as an SEC-Reporting Product

12 July 2021 | Updated: 12 July 2021

After filing the Bitcoin and Ethereum Trusts, Grayscale, the world’s largest cryptocurrency asset manager, has successfully listed its Digital Large Cap Fund with the SEC as a reporting product. The behemoth digital asset manager has also filed three other Registration Statements with the regulatory body.

The investment company filed a Registration Statement on Form 10 with the US Securities and Exchange Commission (SEC) earlier this year.

Grayscale announced the later development by early Monday, noting that the application has scaled approval and is already effective. This development means that the “first diversified digital currency investment fund” now has its shares registered under Section 12(g) of the Securities Exchange Act of 1934.

Speaking on the matter, Grayscale Vice President of Legal Craig Salm noted that:

“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 products adhere. We hold our products to a higher standard because this is what investors want and what we believe they deserve.”

Grayscale Currently has Three SEC-Reporting Products and Three Others On the Way

Meanwhile, the company has filed three more similar registrations with the SEC on representing the Bitcoin Cash Trust, the Ethereum Classic Trust, and the Litecoin Trust. That said, Grayscale currently has three products reporting to the SEC. Apart from the latest addition, the Digital Large Cap Fund, the other two SEC-reporting products track the performance of the largest cryptocurrencies; Bitcoin (BTC) and Ethereum (ETH).

Notably, the Form 10 filing is voluntary and is subject to review and scrutiny by the Securities and Exchange Commission.

After an explosive 2020 to early 2021 performance, Grayscale has recorded a drop in demand for its products. According to recent data, the firm’s total assets under management fell below $30 billion due to the debilitating market crash.

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.