Leading Crypto Index Provider and Largest Digital Currency Asset Manager Continue to Drive Towards Real-Time Transparency
New York, Feb. 27, 2020 (GLOBE NEWSWIRE) — 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 (OTCQX: GDLCF),* today 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.
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.**
For more information, please visit: https://tradeblock.com/markets/dlcx.
*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.
TradeBlock is the leading provider of real-time indices for the spot price of various digital currencies, equipping firms with an effective price discovery mechanism crucial in navigating the volatile digital currency markets. Additionally, TradeBlock offers the premiere platform for institutional digital currency traders, complete with a powerful suite of market and blockchain data, as well as execution and post-trade tools for liquidity providers, asset managers, corporate clients, and exchanges, among others. TradeBlock clients benefit from a number of services, all accessible via a browser-based frontend and programmatically via streaming feeds and APIs, including: an EMS for exchange connectivity; OMS for OTC transactions; seamless wallet integrations; KYC/AML automation; accounting tools; market-leading reporting tools; and, auditable records. For more information on TradeBlock, please visit https://tradeblock.com or email us at [email protected]
About Grayscale Investments®
Grayscale Investments is the world’s largest digital currency asset manager, with more than $2.9B in assets under management as of February 26, 2020. Through its family of 10 investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a traditional security without the challenges of buying, storing, and safekeeping digital currencies directly. With a proven track record and unrivaled experience, Grayscale’s products operate within existing regulatory frameworks, creating secure and compliant exposure for investors. For more information, please visit www.grayscale.co and follow @GrayscaleInvest.
CONTACT: [email protected] [email protected]