Grayscale Plans to Launch a Cryptocurrency ‘Large Cap Fund’

Source : Grayscale Plans to Launch a Cryptocurrency ‘Large Cap Fund’


This Wednesday Investments, the sponsor of the Bitcoin Trust (OTCQX: GBTC) has announced a new cryptocurrency investment vehicle is coming. The company plans to launch the ‘ Digital Large Cap Fund’ (the “Fund”) that intends to hold the top digital assets within the cryptocurrency economy.
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Launches a New Cryptocurrency Fund
The managers of the popular bitcoin investment fund GBTC and the trust, , have decided to create a much larger investment product comprised of a basket of top-performing cryptocurrencies. According to ’s announcement, the basket will consist of (LTC) bitcoin cash (BCH) (XRP) bitcoin core (BTC), and (ETH) for now.
“We’re excited to further expand the universe of ’s product offerings as interest in the digital currency asset class continues to grow,” said , CEO, and founder of Investments.

As a trusted and experienced manager, is committed to creating investment structures that are familiar to qualified investors and provide secure access to this emerging asset class.

The Fund Targets 70% Coverage of the Market
’s .The sponsors first funds consisting of ETH and BTC have done phenomenally well following alongside the prices rises of spot markets. When launched its first product back in 2013 at the time BTC was averaging $127 per coin and GBTC became one of the first mainstream investment vehicles tied to bitcoin reserves. In July of 2017, the firm initiated its trust which is framed in a similar fashion. For the new ‘ Digital Large Cap Fund’ the sponsor may also hold cash and assets that arise from forks and airdrops. Shares will reflect the platform ’s Reference Rate at 4 pm EDT.
“Through a rules-based portfolio construction process, the Fund targets 70% coverage of the market — The Fund will be rebalanced on a quarterly basis to remove existing digital assets or include new digital assets in the Fund’s portfolio in accordance with certain criteria established by Grayscale,” explains the announcement.
One Year of Holding and Risk  
According to Grayscale the Fund is a Cayman Islands limited liability company but based in the United States. The product is also not registered with the U.S. Securities and Exchange Commission (), and is not subject to American based securities laws.
Moreover, Grayscale details that the investment product is “highly speculative in nature,” and the Fund is subject to a one-year holding period. This means investors have to “bear the risks” for an entire year, but after the holding period assets can be “resold without restriction,” Grayscale concludes.
What do you think about Grayscale’s new ‘Digital Large Cap Fund?’ Let us know what you think in the comments below.
Images via Shutterstock, Twitter, and Grayscale. 
Do you like to research and read about Bitcoin technology? Check out’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

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