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Grayscale Digital Large Cap Fund LLC has announced a new agreement with BNY Mellon Asset Servicing, a division of The Bank of New York Mellon (NYSE:BK). The agreement, which took effect on Wednesday, involves BNY Mellon providing administrative and accounting services to the fund. This development was disclosed in a recent filing with the Securities and Exchange Commission (SEC). The fund, currently valued at $704.04 million in market capitalization, has demonstrated strong financial health according to InvestingPro metrics.
The agreement is facilitated by Grayscale Investments Sponsors, LLC, the fund’s manager. The details of the agreement are outlined in the Fund Administration and Accounting Agreement, which is included as an exhibit in the SEC filing. This partnership aims to enhance the operational efficiency of the fund by leveraging BNY Mellon’s expertise in asset servicing.
Grayscale Digital Large Cap Fund LLC, incorporated in the Cayman Islands, is managed by Grayscale Investments Sponsors, LLC. The fund’s shares are traded under the symbol GDLC, although they are not listed on a specific exchange. Trading at $43.85, the fund has delivered impressive returns, with a 63.62% gain over the past year and is currently trading near its 52-week high of $49. InvestingPro analysis reveals several more key performance indicators and investment insights available to subscribers.
The SEC filing also indicates that the fund qualifies as an emerging growth company under the Securities Act of 1933 and the Securities Exchange Act of 1934. However, it has not elected to use the extended transition period for complying with new or revised financial accounting standards.
This information is based on a press release statement filed with the SEC.
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