CandleFocus Grayscale starts the clock on SEC decision to convert GDLC fund to an ETF
2024-10-29
Author: Content Editor
Grayscale, a leading digital asset management firm, is planning to convert its Digital Large Cap Fund (GDLC) into an ETF (exchange-traded fund) and list it on the New York Stock Exchange (NYSE). The fund currently holds a diversified portfolio of digital assets, with Bitcoin being the largest component at 75.46%. This conversion could potentially unlock $167 million in value for shareholders and provide traditional investors with a regulated way to access digital assets. To ensure compliance and security, Coinbase Custody will manage the storage of the fund's assets, and the NYSE has measures in place to protect investors in case of technical issues.
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