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Regulatory Series on Cryptocurrencies: Grayscale Investments Becomes FINRA Approved Diversified Crypto Fund
Grayscale Investments, a digital asset management firm founded by Digital Currency Group, announced recently that they have received FINRA approval to list its Digital Large Cap Fund (DLC) on OTC Markets under the symbol GDLCF.
Thereby, it is expected that Grayscale Digital Large Cap Fund to trade on the OTCQX market (symbol: GDLCF) alongside our other public quotations: GBTC, ETHE, and ETCG.
Grayscale Digital Large Cap Fund enables investors to fetch exposure to the price movement of a diversified basket of large-cap digital currencies through an investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital currencies directly.
The GDLCF is comprised of 80.3% of Bitcoin (BTC), 9.9% Ethereum (ETH), 5.8% XRP, 2.2% Bitcoin Cash (BCH) and 1.8% Litecoin (LTC). That implies each unit of GDLCF denotes 0.00049043 Bitcoin, 0.00283525 Ethereum, 1.13609958 XRP, 0.00049348 Bitcoin Cash, and 0.00160253 Litecoin.
Meanwhile, Grayscale’s bitcoin trust product (GBTC), decreased in terms of total trading volume with 1.14 billion USD traded in August (down 42.4% since July).