Leading Crypto Index Provider and Largest Digital Currency Asset Manager Continue to Drive Towards Real-Time Transparency
TradeBlock, the world’s leading provider of institutional indices, tools, data, and post-trade infrastructure for digital currencies, and Grayscale Investments, the world’s largest digital currency asset manager and manager of Grayscale Digital Large Cap Fund, announced the launch of the TradeBlock Grayscale Digital Large Cap Index (DLCX), a market-leading index that provides market participants increased visibility into the daily performance and composition of GDLCF.
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The DLCX Index will allow investors and other market participants to obtain enhanced real-time transparency into the composition and performance of GDLCF. While GDLCF’s portfolio construction methodology was developed and is managed by Grayscale, an intra-day index price will now be calculated, verified, and published in real-time by TradeBlock, an independent pricing source.
GDLCF is a market cap-weighted fund that enables investors to gain exposure to the price movement of a diversified portfolio of large-cap digital currencies through a singular investment vehicle without the challenges of buying, storing, and safekeeping digital currencies directly. While GDLCF’s Fund Components are re-evaluated each quarter, the weightings of each fund component change daily and are published around 4:00pm NY-time.**
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*Grayscale Digital Large Cap Fund offers a private placement to accredited investors. Because GDLCF does not currently operate a redemption program, there can be no assurance that the value of the Shares will approximate the value of Fund Components held by GDLCF, less GDLCF’s expenses and other liabilities, and the Shares may trade at a substantial premium over, or a substantial discount to, the value of Fund Components held by GDLCF, less GDLCF’s expenses and other liabilities.
**As of January 31, 2020, the Fund Components were a basket of 81.0% Bitcoin (BTC), 9.0% Ethereum (ETH), 4.8% XRP, 3.3% Bitcoin Cash (BCH), and 1.9% Litecoin (LTC) and each Share represented 0.00048550 Bitcoin (BTC), 0.00280673 Ethereum (ETH), 1.12467148 XRP, 0.00048852 Bitcoin Cash (BCH), and 0.00158641 (LTC). GDLCF will not generate any income and regularly distributes Fund Components to pay for its ongoing expenses. Therefore, the amount of Fund Components represented by each Share gradually decreases over time.
This press release is not an offer to sell or the solicitation of an offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal, nor shall there be any sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
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