Grayscale InvestmentsĀ® Files Request for Withdrawal of Voluntary Registration Statement on Form 10 for Grayscale Filecoin Trust
STAMFORD, Conn., June 09, 2023 (GLOBE NEWSWIRE) -- Grayscale InvestmentsĀ®, the worldās largest digital currency asset manager and sponsor of GrayscaleĀ® Filecoin Trust (FIL) (OTCQB: FILG) (the āTrustā), today announced it has filed a request with the Securities and Exchange Commission (SEC) seeking withdrawal of the Trustās Registration Statement on Form 10. Grayscale intends to continue providing reports for the Trust according to the Alternative Reporting Standards of the OTCQBĀ®.
Grayscale voluntarily files Registration Statements on Form 10 with the SEC to provide full and fair risk disclosures and other enhancements for Grayscaleās products and provide investors with greater transparency.
Grayscale originally filed the Registration Statement for the Trust on April 14, 2023. On May 16, 2023, Grayscale disclosed that it received a comment letter from the SEC staff requesting that Grayscale withdraw the Trustās Registration Statement; the SEC staff stated its view that the Trustās underlying asset, Filecoin (FIL), meets the definition of a security under the federal securities laws.
On June 6, 2023, Grayscale responded to the SEC staff with an explanation of the legal basis for Grayscaleās position that FIL is not a security through an analysis of Howey case law. In subsequent written correspondence, following the SECās naming of FIL as a security in certain filings in federal district court, the SEC staff reiterated its request for Grayscale to seek withdrawal of the Trustās Registration Statement. In its withdrawal request, Grayscale noted that it continued to believe that FIL is not a security for the reasons stated in its June 6, 2023, letter.
This release is being issued in accordance with the disclosure requirements of OTCQBĀ®. The Trustās Annual Report and other disclosures, published to satisfy the Alternative Reporting Standard disclosure guidelines for OTCQB, are available at https://www.otcmarkets.com/stock/FILG/disclosure.
About Grayscale InvestmentsĀ®
Grayscale enables investors to access the digital economy through a family of secure, regulated, and future-forward investment products. Founded in 2013, Grayscale has a proven track record and deep expertise as the worldās largest digital currency asset manager. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. Grayscale products are distributed by Grayscale Securities, LLC (Member FINRA/SIPC). For more information, please follow @Grayscale or visit grayscale.com.
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