Grayscale Digital Large Cap Fund Announces Rebalancing of Fund
Digital currency asset manager Grayscale Investments, manager of Grayscale Digital Large Cap Fund (OTCQX: GDLC), this week announced the updated component weightings for the fund in connection with its quarterly review.
Grayscale has adjusted the portfolio by selling the existing fund components in proportion to their respective weightings and using the cash proceeds to purchase Chainlink (LINK) in accordance with the fund’s construction criteria.
This announcement follows the recent launch of Grayscale Chainlink Trust, a single-asset investment product offering investors exposure to the price movement of the LINK token. Chainlink is a decentralized data routing protocol that is built on Ethereum. Through a wide network of nodes, Chainlink facilitates the transfer of data from off-chain sources to on-chain applications, in what is commonly referred to as an oracle service. The LINK token is the native token of Chainlink and is used to incentivize Chainlink node operators to provide oracle services.
For investors who wish to learn more about Chainlink, Grayscale also recently published an introduction to the digital currency, available here.
As of the end of the day on April 2, the fund components were a basket of 79.8% Bitcoin (BTC), 17.5% Ethereum (ETH), 0.80% Bitcoin Cash (BCH), 1.00% Litecoin and 0.90% Chainlink (LINK) and each share represented 0.00046619 Bitcoin (BTC), 0.00287637 Ethereum (ETH), 0.00046869 Bitcoin Cash (BCH), 0.00166308 Litecoin and 0.00973831 Chainlink (LINK). The fund does 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.