Digital asset manager Grayscale Investment's digital large cap fund has become an SEC-reporting company, according to a statement today.
The digital large cap fund represents a weighted group of some of the biggest cryptocurrencies by market cap. The majority of its holdings are in bitcoin and ether, comprising just shy of 93%. The remaining holdings are in cardano — which was added earlier this month — along with bitcoin cash, litecoin and chainlink.
Grayscale's main two bitcoin and ethereum trusts are already SEC-reporting companies. The firm has now filed for three more of its trusts — namely for bitcoin cash, ethereum classic and litecoin — to also become SEC-reporting companies.
"Events such as the Fund becoming our third SEC reporting company, and the additional Form 10 filings, signal that there is continued investor interest in gaining exposure to the growing digital currency ecosystem within existing regulatory frameworks, and that regulators continue to engage with market participants in the asset class,” said Craig Salm, vice president of legal at Grayscale.
As an SEC-reporting company, the fund will have to file reports and financial statements with the SEC and comply with further obligations.