Global Exchange: Grayscale Investments, the digital currency asset manager has received a green signal from FINRA for a publicly-quoted digital currency index fund.
The Digital Large Cap Fund (DLC) will now be listed under the initials GDLCF on over-the-counter markets and exchanges.
The fund will derive value from a basket of currencies. DLC is an open-ended fund managed by Grayscale which enables an investor to gain exposure to the price movement of large-capital digital currency baskets.
DLC is Grayscale's fourth publicly-quoted investment product after Bitcoin Trust, Ethereum Trust, and Ethereum Classic Trust.
The investment products of Grayscale are available via their respective periodic and ongoing private placements to institutional and individual accredited investors.
DLC offers exposure to a broad selection of digital currencies that meet Grayscale's fund construction requirements through a market capitalization-weighted portfolio.
Nvestweekly reported, as of September 30, 2019, DLC's Fund Components were a basket of 80.3% Bitcoin (BTC), 9.9% Ethereum (ETH), 5.8% XRP, 2.2% Bitcoin Cash (BCH), and 1.8% Litecoin (LTC).
Along with market cap, when choosing cryptocurrencies for the fund, certain factors such as liquidity, operational requirements, and the availability of custodial solutions were considered.
DLC is not registered with the Securities and Exchange Commission (SEC) and is therefore not subject to disclosure or other U.S. securities laws.
Blockchain Training Institute: Although there are dozen bitcoin ETF proposals that are marked down by the US Securities and Exchange Commission(SEC), this young firm is in high hopes that SEC would give a green signal.
Wilshire Phoenix is a New York-based company in association with the NYSE Arca has filed a United States Bitcoin & Treasury Investment Trust ETF.
This firm will invest both bitcoin and U.S. Treasury securities, which is referred to as T-bills.
"Our proposed bitcoin-related ETF is quite different from those that have previously been submitted to the Commission for approval.
To name just a few distinctions, the composition of the Trust is very different.
Our Trust is a multi-asset trust (bitcoin and T-Bills), as opposed to just bitcoin,” quoted William Herrmann, founder and managing partner, Wilshire Phoenix.However, SEC has rejected multiple proposals considering the firm's age, the risk to investors and exposure to digital assets.
The public, licensed crypto-asset broker, Voyager that delivers a turnkey solution to investors to trade cryptocurrency/assets has announced that the firm will be initiating the first phase of its international expansion by launching the Voyager application in Canada this fall.
The residents of Canada can pre-register for the platform and can sign up at https://try.investvoyager.com/canada-pre-registration/ for the waitlist.
Voyager Digital is also a registered member of FinTrac and is also traded publicly on the OTC markets and Canadian Securities Exchange, which makes the country a natural first step in the plans of the company for international expansion.Cryptocurrency/asset broker Voyager announces expansionThe launch of Voyager’s crypto trading app in Canada will deliver the existing investors of the firm as well as its new customers with the complete crypto offering of the firm.
It will be inclusive of complete access to the app of Voyager and all its features which also includes the Voyager interest program, crypto transfers, and recurring buys, and commission-free trading and buying of more than 40 digital assets.
The international expansion of the firm is also expected to be inclusive of a range of unique partnerships as well as offerings with banking and payment processors.Steve Ehrlich, the CEO, and co-founder of Voyager stated that the firm had witnessed a great increase in the number of new accounts of Voyager over the past couple of months along with that it has also realized an ever-growing interest in the Canadian markets for the Voyager App.
The company went public in Canada in 2019, And today it has come a full circle with two extremely significant milestones for the firm, the first being the expansion of its business into Canada and second being the initiation of the first phase of its international growth plan.Follow fintecbuzz for more such fintech news and related information.
