M&A - Grayscale Digital Large Cap Fund LLC

Form Type: 10-Q

Filing Date: 2025-05-02

Corporate Action: Merger

Type: Update

Accession Number: 000095017025062734

Filing Summary: On May 2, 2025, Grayscale Digital Large Cap Fund LLC filed its quarterly report on Form 10-Q for the period ending March 31, 2025. The report outlines the financial condition and results of operations of the Fund. As of March 31, 2025, the Fund reported total assets of $603,087,000, an increase from $526,956,000 reported on June 30, 2024. Major components of the Fund's holdings include significant investments in Bitcoin, Ether, and XRP. The Fund experienced a net investment loss of $4,414,000 during the quarter, leading to a decrease in net assets resulting from operations of $135,113,000. Following an internal corporate reorganization effective January 1, 2025, Grayscale Investments, LLC merged into Grayscale Operating, LLC, with the latter continuing as the surviving entity. This Merger affected the management structure of the Fund; GSO and Grayscale Investments Sponsors, LLC, now manage the Fund. The Fund's aim continues to be holding top digital assets based on market capitalization. The filing also includes various financial statements and notes, reflecting adjustments necessary for fair presentation under U.S. GAAP. Additionally, the Fund seeks to maintain transparency by reporting on associated risks and market conditions.

Form Type: 8-K

Filing Date: 2025-01-03

Corporate Action: Merger

Type: New

Accession Number: 000095017025001115

Filing Summary: On January 1, 2025, Grayscale Investments, LLC consummated an internal corporate reorganization, merging with Grayscale Operating, LLC, a wholly owned indirect subsidiary of Digital Currency Group, Inc. As a result of this merger, GSO succeeded to all rights, privileges, and liabilities of GSI. GSO subsequently assigned certain manager contracts to Grayscale Investments Sponsors, LLC. Despite these changes, the organization does not expect any significant impact on the Fund's operations. Additionally, on January 3, 2025, GSO voluntarily withdrew as a Manager of the Fund after a 120-day notice period, which will leave GSIS as the sole remaining Manager of the Fund.