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Grayscale Digital Large Cap Fund LLC (GDLC)

Other OTC - Other OTC Delayed Price. Currency in USD
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22.77+0.27 (+1.20%)
At close: 3:56PM EDT
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Trade prices are not sourced from all markets
Previous Close22.50
Open22.90
BidN/A x N/A
AskN/A x N/A
Day's Range21.56 - 23.60
52 Week Range21.56 - 23.60
Volume37,189
Avg. VolumeN/A
Net AssetsN/A
NAVN/A
PE Ratio (TTM)N/A
YieldN/A
YTD Daily Total ReturnN/A
Beta (5Y Monthly)N/A
Expense Ratio (net)N/A
Inception DateN/A
  • GlobeNewswire

    Grayscale Digital Large Cap Fund Announces Resumption of Private Placement

    New York, Aug. 31, 2020 (GLOBE NEWSWIRE) -- Grayscale Investments, the world’s largest digital currency asset manager and manager of Grayscale® Digital Large Cap Fund (OTCQX: GDLC) (the Fund), today announced that the Fund will resume the private placement of its shares. The Fund’s private placement is offered on a periodic basis throughout the year and is currently available to accredited investors for daily subscription.* The Fund enables investors to gain exposure to a market-cap weighted portfolio of large-cap digital currencies through a singular investment vehicle without the challenges of buying, storing, and safekeeping digital currencies directly.** Through a rules-based portfolio construction methodology, the Fund targets coverage of the upper 70% of the digital currency market and is re-evaluated each quarter; however, the weightings of each Fund Component change daily and are published around 4:00pm NY-time.*** The Fund’s investment objective is for its shares (based on Fund Components per share) to reflect the value of Fund Components held by the Fund, less its expenses and other liabilities. To date, the Fund has not met its investment objective and the shares quoted on OTCQX have not reflected the value of Fund Components held by the Fund less, the Fund’s expenses and other liabilities, but have instead traded at a substantial premium over such value. Following a one-year holding period, shareholders who invest in the private placement may elect to sell their shares at prices dictated by the market under the symbol: GDLC. The Fund is an investment vehicle with shares titled in the investor’s name, providing a familiar structure for financial and tax advisors and easy transferability to beneficiaries under estate laws. Additionally, shares are eligible to be held in certain IRA, Roth IRA, and other brokerage and investor accounts. The private placement shares have not been registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws, and the shares are being offered pursuant to an exemption from registration provided by Rule 506(c) of Regulation D under the Securities Act and in reliance on similar exemptions under applicable state laws. An investment in the shares of the Fund is suitable only for sophisticated, well-informed investors, and investors will be required to represent that they are accredited investors as such term is defined in Rule 501(a) of Regulation D under the Securities Act. As a result, the shares are restricted shares and are subject to a one-year holding period in accordance with Rule 144 under the Securities Act. Because of the one-year holding period and the lack of an ongoing redemption program, shares should not be purchased by any investor who is not willing and able to bear the risk of investment and lack of liquidity for at least one year. No assurances are given that after the one-year holding period, there will be any market for the resale of shares, or, if there is such a market, as to the price at which such shares may be sold into such a market. Qualified investors should refer to the Fund’s private placement memorandum, which is available from Grayscale at info@grayscale.co, for a discussion of these and other risks. Grayscale's investment products are available to institutional and accredited investors through their respective periodic and ongoing private placements. In addition to the Fund, Grayscale’s single-asset investment products provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC). All 10 of its products are also currently available for daily subscription by accredited investors. For more information, please visit: https://grayscale.co/investors/. For real time visibility into the daily performance and composition of the Fund, please refer to the TradeBlock Grayscale Digital Large Cap Index (DLCX): https://tradeblock.com/markets/dlcx. *The Fund offers a private placement to accredited investors. The Fund does not currently operate a redemption program. **As of August 28, 2020, the Fund Components were a basket of 77.4% Bitcoin (BTC), 15.3% Ethereum (ETH), 4.2% XRP, 1.8% Bitcoin Cash (BCH), and 1.3% Litecoin (LTC) and each share represented 0.00047719 Bitcoin (BTC), 0.00275870 Ethereum (ETH), 1.10542512 XRP, 0.00048016 Bitcoin Cash (BCH), and 0.00155926 Litecoin (LTC). The Fund will not generate any income and regularly distributes Fund Components to pay for its ongoing expenses. Therefore, the amount of Fund Components represented by each share gradually decreases over time. ***The composition of the Fund is evaluated on a quarterly basis to remove existing Fund Components or to include new Fund Components in its portfolio, in accordance with the Fund's construction criteria established by Grayscale.   This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. About Grayscale Investments®  Grayscale Investments is the world’s largest digital currency asset manager, with more than $5.9B in assets under management as of August 28, 2020. Through its family of 10 investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale’s products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. For more information, please visit www.grayscale.co and follow @Grayscale.  CONTACT: Marissa Arnold  press@grayscale.co   info@grayscale.co

  • GlobeNewswire

    Trading to Commence for Grayscale Bitcoin Cash Trust and Grayscale Litecoin Trust

    New York, Aug. 17, 2020 (GLOBE NEWSWIRE) -- Grayscale Investments®, the world’s largest digital currency asset manager, today announced that Grayscale® Bitcoin Cash Trust and Grayscale® Litecoin Trust have received DTC-eligibility. Eligible Shares of Grayscale Bitcoin Cash Trust will be available to trade on OTC Markets under the symbol: BCHG and eligible Shares of Grayscale Litecoin Trust will be available to trade on OTC Markets under the symbol: LTCN. This announcement follows FINRA’s verification that the required diligence to begin quoting BCHG and LTCN pursuant to Rule 15c2-11 under the Securities Exchange Act of 1934, as amended, has been completed. The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of each Trust’s underlying assets through an investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.  SECONDARY MARKETS for the PRIVATE PLACEMENTS The Trusts have offered private placements to accredited investors since March 2018. As of July 31, 2020, there were 6,028,000 Shares outstanding of BCHG and each Share represented ownership of 0.00941311 Bitcoin Cash. As of July 31, 2020, there were 2,500,800 Shares outstanding of LTCN and each Share represented ownership of 0.09413112 Litecoin. Shares created through each Trust’s respective private placement become eligible to sell into the public market after a statutory one-year holding period under Rule 144 of the Securities Act.*  All investors with access to U.S. securities will be able to buy and sell freely-tradable shares of BCHG and LTCN through their investment accounts in the same manner as they would other unregistered securities. INVESTMENT OBJECTIVE The investment objective of each Trust is for the Shares (based on assets per Share) to reflect the value of the assets held by such Trust, determined by reference to the appropriate TradeBlock index at 4:00 p.m. New York time, less such Trust’s expenses and other liabilities. TradeBlock's BCX Index is the reference for Grayscale Bitcoin Cash Trust and TradeBlock's LTX Index is the reference for Grayscale Litecoin Trust. The Trusts will not generate any income and regularly distribute Bitcoin Cash and Litecoin respectively, to pay for its ongoing expenses. Therefore, the amount of Bitcoin Cash and Litecoin represented by each respective Share gradually decreases over time. The Trusts are not registered with the Securities and Exchange Commission and are not subject to disclosure and certain other requirements mandated by U.S. securities laws. GRAYSCALE PRODUCT FAMILY Grayscale's investment products are available to institutional and individual accredited investors through their respective periodic and ongoing private placements. In addition to its Bitcoin Cash (BCH) and Litecoin (LTC) offering, Grayscale’s single-asset investment products provide exposure to Bitcoin (BTC), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Stellar Lumens (XLM), XRP, and Zcash (ZEC). Additionally, Grayscale’s diversified investment product, Grayscale® Digital Large Cap Fund offers coverage of the upper 70% of the digital currency market by market capitalization. As of July 31, 2020, Grayscale managed approximately $5.2 billion in assets. BCHG and LTCN represent Grayscale’s fifth and sixth publicly-quoted investment products. Grayscale® Bitcoin Trust (OTCQX: GBTC), Grayscale® Ethereum Trust (OTCQX: ETHE), Grayscale® Ethereum Classic Trust (OTCQX: ETCG), and Grayscale® Digital Large Cap Fund (OTCQX: GDLC) are also publicly-quoted and available to all investors with access to U.S. securities. Investors will be able to find current financial disclosure and Real-Time Level 2 quotes for Shares on www.otcmarkets.com/stock/BCHG/overview once trading for BCHG commences and www.otcmarkets.com/stock/LTCN/overview once trading for LTCN commences. *Each Trust offers a private placement to accredited investors. The investment objective of each Trust is for its Shares to reflect the value of assets held by such Trust, less such Trust’s expenses and other liabilities. Because each Trust does not currently operate a redemption program, there can be no assurance that the value of the Shares will approximate the value of the assets held by such Trust, less such Trust’s expenses and other liabilities, and the Shares may trade at a substantial premium over, or a substantial discount to, such value and such Trust may be unable to meet its investment objective. This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. About Grayscale Investments®    Grayscale Investments is the world’s largest digital currency asset manager, with more than $5.2B in assets under management as of July 31, 2020. Through its family of 10 investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a traditional security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale’s products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. For more information, please visit www.grayscale.co and follow @Grayscale. CONTACT: Marissa Arnold marissa@grayscale.co

  • GlobeNewswire

    Grayscale Debuts New TV Campaign: The History of Money

    Leading Digital Currency Asset Manager Launches Latest Brand Advertising InitiativeNew York, Aug. 10, 2020 (GLOBE NEWSWIRE) -- Grayscale Investments®, the world’s largest digital currency asset manager, today revealed its latest national advertising initiative. The campaign aims to elevate awareness of Grayscale’s brand and its products.    Grayscale provides opportunities for investors to gain exposure to digital currencies through its family of investment products that offer investors exposure to the digital currency asset class without the challenges of buying, storing, or safekeeping cryptocurrency directly.  The brand campaign features a new television commercial that depicts the history of money. Stills and video clips illustrate how money has evolved over thousands of years, taking a variety of forms including shells and metals. The voiceover reminds viewers that today, as we put value in fiat, government-issued currency, we’ve “proceeded to wave goodbye to value, printing unlimited amounts of money.” The spot begs the question: in today’s digital world, why isn’t currency digital as well? And Grayscale is the way to access the future of money.     The company licensed the Ramones’ number one hit, Blitzkrieg Bop, for the advertisement to further bolster the anthemic narrative.  The campaign is also supported by digital elements that highlight Grayscale’s brand proposition, as a trusted partner for investing in digital currencies and the asset manager behind the world's largest Bitcoin (Grayscale® Bitcoin Trust) and Ethereum (Grayscale® Ethereum Trust) investment products. Additional visual components of the campaign depict the breadth of investor-types that are now engaging in the digital currency asset class. The new commercial will run on linear TV as well as digital and social platforms. The additional creative will run on digital and social channels. Grayscale collaborated with commercial director Brennan Stasiewicz, who developed and produced the advertisement working with Bunker as well as Vested in the creation and execution of the new campaign.  To learn more and view the new video spot, please visit grayscale.co/watch and follow @Grayscale. This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. About Grayscale Investments®  Grayscale Investments is the world’s largest digital currency asset manager, with more than $5.2B in assets under management as of July 31, 2020. Through its family of 10 investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a traditional security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale’s products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. For more information, please visit www.grayscale.co and follow @Grayscale. CONTACT: Marissa Arnold press@grayscale.co