Grayscale to Become an SEC Reporting Company
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Grayscale to Become an SEC Reporting Company

May 14, 2021      Kavya Barua

Grayscale reported on Thursday that the company’s Digital Large Cap Fund (GDLC) had applied with the Securities and Exchange Commission to become an SEC Reporting Company, a third of its investment funds as a reporting entity (SEC).

Grayscale to Become an SEC Reporting Company

Grayscale, a crypto asset manager, has applied to the Securities and Exchange Commission to become a reporting company, a third of its investment funds as a reporting entity (SEC).

Grayscale reported on Thursday that the company’s Digital Large Cap Fund (GDLC) had filed the application with the Securities and Exchange Commission intending to hold large-cap crypto assets that makeup 70% of the digital asset market. The registration becomes valid until the SEC declares it to be so.

This legislation imposes daily reporting requirements, but it also has the potential to draw more cautious investors.

If approved, the GDLC would be required to file quarterly and annual financial reports, as well as other Exchange Amendment documents. The decision is also the first step to make the GDLC a publicly traded asset, as SEC approval would require the fund’s capital to be verified with the commission.

 How Safe Is Grayscale?

According to data extracted from the company’s website, GDLC was launched in 2019 that has grown almost 300% and at present, it holds $630.1 million assets under management. 

Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and Chainlink’s LINK are the five cryptocurrencies that characterize GDLC.

Grayscale’s Large Cap Fund currently has over $630 million in assets under administration, according to the most recent report on Wednesday. Overall, the company holds $53.1 billion in cash.

Grayscale liquidated XRP from the market-cap-weighted GDLC fund in January, about the SEC’s grievance against Ripple.

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#Binance #Bitcoin #Bitcoin (BTC) #Bitcoin Cash #Chainlink (LINK) #Cryptocurrencies #Ethereum #Grayscale #Litecoin #Security and Exchange Commission (SEC) #XRP
Kavya Barua
Kavya Barua

Kavya Barua is in her final year of graduation from University of Delhi's, B.A (Hons) English program at Janki Devi Memorial College. She is an avid learner with a taste for advancements in crypto and Fintech. She is gaining interest in digital marketing and being a part of the organization where continuous growth and learning is assured and fulfilling the expectations of her knowledge and skills. She aspires to have a good career path with interest and ability to learn and deliver the results.