Grayscale’s diversified cryptocurrency fund has filed to become an SEC reporting business.

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Grayscale Investments has applied to become an SEC reporting entity with its $630 million diversified large-cap crypto portfolio.

Grayscale has sent its third Form 10 to the US Securities and Exchange Commission in order to turn one of its investment funds into an SEC-reporting firm.

Tweeting on Thursday, Grayscale announced that the company’s Digital Large Cap Fund, or GDLC, has filed the application with the SEC.

If approved, the GDLC would be required to file quarterly and annual financial reports, in addition to other Exchange Act-mandated records. The transition is also the first step towards converting the GDLC into a publicly traded stock, since approval from the SEC will imply registering of the fund’s securities with the commision.

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According to data from the company’s website, since its inception in 2019, GDLC has expanded almost 300 percent and now manages about $630.1 million in assets. GDLC is made up of five different cryptocurrencies: Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), and Chainlink’s LINK.

Grayscale liquidated XRP from the market-cap-weighted GDLC fund in January, in response to the SEC’s case against Ripple.

 

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