Grayscale Gains FINRA Approval for Crypto Fund With BTC, ETH, XRP, BCH and LTC
Grayscale Investments, a digital asset management firm founded by Digital Currency Group, announced Thursday that it has received FINRA approval to list its Digital Large Cap Fund (DLC) on OTC Markets under the symbol GDLCF.
According to the announcement, the Digital Large Cap Fund is made up of 80.3% Bitcoin (BTC), 9.9% Ethereum (ETH), 5.8% XRP, 2.2% Bitcoin Cash (BCH) and 1.8% Litecoin (LTC). This means that each share of GDLCF represents 0.00049043 Bitcoin, 0.00283525 Ethereum, 1.13609958 XRP, 0.00049348 Bitcoin Cash, and 0.00160253 Litecoin.
Grayscale notes that there are a few more steps until GDLCF is available for public trading.
“There will be no trading volume in the Shares’ public quotation until the Shares are DTC eligible, which GDLC is expected to receive soon,” states the Grayscale team. “Investors will be able to buy and sell freely-tradable DLC shares through their investment accounts in the same manner as they would other unregistered securities.”
As we reported last May, Grayscale most recently launched the Ethereum Trust (ETHE) as its third publicly tradeable investment product by Grayscale, joining both Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Classic Trust (ETCG).
More: Grayscale Investments Announces Approval of Public Quotation for Eligible Shares of Grayscale Digital Large Cap Fund
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.