Grayscale says the corporate fund, which includes bitcoin, Ethereum, Cardano and October altcoins, is now registered with the SEC

The grayscale digital asset management giant has reached a new milestone in Securities and Exchange Commission (SEC) work.

In a new submission, Grayscale received approval to launch its large-scale fund (GDLC) as an Sec reporting company after an initial request for approval in May. 

 
The large-scale fund has six leading crypto assets, including bitcoin (BTC), Ethereum (ETH), Lightcoin (LTC), Bitcoin Cash (BCH), chain (LINK) and Cardano (ADA).

It is the third Grayscale digital asset fund to become an Sec reporting company, joining Grayscale bitcoin trust (GBTC) and grayscale ethereum Trust (ETHE). 

Craig Salm, vice president of legal affairs at Grayscale, said the move would give investors a high level of transparency and confidence in a large-scale fund.

“We keep our products at a higher level because that’s what investors want and think they deserve. Developments such as the [large-cap] fund, the third company to report to the SEC, and October 10 applications show that investors are interested in continuing access to the growing digital currency ecosystem within the current regulatory framework, and that regulators will continue to engage with market participants in the asset class.”

Once approved, the large-scale Fund will now need to start delivering quarterly(10-Qs) and annual (10-Ks) reports, along with GBTC and ETHE funds.

In October, qualified investors who purchased shares during the private placement of the fund were required to obtain a settlement under Section 144 of the Securities Act of 1933.under its rule, it will reduce the required period of ownership from 12 months to six months.

As of July 9, the large-scale fund included 67.49% BTC, 25.35% ETH, 4.30% ADA, 1.03% BCH, 0.96% LTC and 0.87% LINK.

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