Grayscale Digital Large Cap Fund Files 10-Q

TL;DR

**GDLC 10-Q filed: Bitcoin, ETH, SOL holdings updated. Post-period events for XRP & SOL noted.**

AI Summary

Grayscale Digital Large Cap Fund LLC filed its 10-Q for the period ending September 30, 2024. The filing details the fund's investments in various digital assets, including Bitcoin, Ethereum, and Solana. Subsequent events noted include changes related to XRP and Solana on October 28, 2024, and Solana on October 3, 2024.

Why It Matters

This filing provides investors with an update on the Grayscale Digital Large Cap Fund's holdings and any significant events that occurred after the reporting period, impacting the value and composition of its digital asset portfolio.

Risk Assessment

Risk Level: medium — The fund's value is directly tied to volatile digital assets, and the filing details specific investments and subsequent events that could impact its performance.

Key Players & Entities

• Grayscale Digital Large Cap Fund LLC (company) — Filer of the 10-Q
• Bitcoin (company) — Fund holding
• Ethereum (company) — Fund holding
• Solana (company) — Fund holding
• XRP (company) — Fund holding
• 2024-09-30 (date) — End of reporting period
• 2024-10-28 (date) — Subsequent event date
• 2024-10-03 (date) — Subsequent event date

FAQ

Filing Documents

• gdlc-20240930.htm (10-Q) — 1753KB
• gdlc-ex31_1.htm (EX-31.1) — 21KB
• gdlc-ex31_2.htm (EX-31.2) — 21KB
• gdlc-ex32_1.htm (EX-32.1) — 7KB
• gdlc-ex32_2.htm (EX-32.2) — 7KB
• img242320831_0.jpg (GRAPHIC) — 570KB
• img242320831_1.jpg (GRAPHIC) — 405KB
• img242320831_2.jpg (GRAPHIC) — 304KB
• 0000950170-24-120127.txt ( ) — 8445KB
• gdlc-20240930.xsd (EX-101.SCH) — 496KB
• gdlc-20240930_htm.xml (XML) — 1175KB

Forward-Looking Statements

Forward-Looking Statements 3 Industry and Market Data 3

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 4 Schedules of Investments at September 30, 2024 and June 30, 2024 5 6 7 Notes to the Unaudited Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 35 Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38 Item 3. Defaults Upon Senior Securities 38 Item 4. Mine Safety Disclosures 38 Item 5. Other Information 38 Item 6. Exhibits 39 GLOSSARY OF DEFINED TERMS 40

SIGNATURES

SIGNATURES 44 2 Forw ard-Looking Statements This Quarterly Report on Form 10-Q contains "forward-looking statements" with respect to the financial conditions, results of operations, plans, objectives, future performance and business of Grayscale Digital Large Cap Fund LLC (the "Fund"). Statements preceded by, followed by or that include words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms and other similar expressions are intended to identify some of the forward-looking statements. All statements (other than statements of historical fact) included in this Quarterly Report that address activities, events or developments that will or may occur in the future, including such matters as changes in market prices and conditions, the Fund's operations, the plans of Grayscale Investments, LLC (the "Manager") and references to the Fund's future success and other similar matters are forward-looking statements. These statements are only predictions. Actual events or results may differ materially from such statements. These statements are based upon certain assumptions and analyses the Manager made based on its perception of historical trends, current conditions and expected future developments, as well as other factors appropriate in the circumstances. Whether or not actual results and developments will conform to the Manager's expectations and predictions, however, is subject to a number of risks and uncertainties, including, but not limited to, those described in "Part I, Item 1A. Risk Factors" of our Annual Report on Form 10-K and in "Part II, Item 1A. Risk Factors" herein. Forward-looking statements are made based on the Manager's beliefs, estimates and opinions on the date the statements are made and neither the Fund nor the Manager is under a duty or undertakes an obligation to update forward-looking statements if these beliefs, estimates and opinion

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION:

Financial St atements (Unaudited)

Item 1. Financial St atements (Unaudited) GRAYSCALE Digital Large Cap Fund LLC ( Amounts in thousands, except Share and per Share amounts) September 30, 2024 June 30, 2024 Assets: Investments in digital assets, at fair value (cost $ 122,524 and $ 122,519 as of September 30, 2024 and June 30, 2024, respectively) $ 506,603 $ 526,956 Total assets $ 506,603 $ 526,956 Liabilities: Manager's Fee payable, related party $ - $ - Total liabilities - - Net assets $ 506,603 $ 526,956 Shares issued and outstanding, no par value (unlimited Shares authorized) 15,867,400 15,867,400 Principal market net asset value per Share $ 31.93 $ 33.21 See accompanying notes to the unaudited financial statements. 4 GRAYSCALE Digital Large Cap Fund LLC SCHEDULES OF INVESTMENTs (UNAUDITED) ( Amounts in thousands, except quantity of each Fund Component and percentages) September 30, 2024 Quantity Cost Fair Value % of Net Assets Investment in Bitcoin 5,944.50511779 $ 73,297 $ 377,267 74.47 % Investment in Ether 36,226.90392275 18,134 93,988 18.55 % Investment in SOL 139,322.47482893 16,927 21,592 4.26 % Investment in XRP 16,768,772.061552 9,777 10,440 2.06 % Investment in AVAX 118,712.78658314 4,389 3,316 0.66 % Net assets $ 122,524 $ 506,603 100.00 % June 30, 2024 Quantity Cost Fair Value % of Net Assets Investment in Bitcoin 5,990.49484890 $ 73,864 $ 370,987 70.41 % Investment in Ether 36,577.59452337 18,310 125,205 23.76 % Investment in SOL 135,348.78720949 16,294 19,574 3.71 % Investment in XRP 16,719,307.919340 9,764 7,917 1.50 % Investment in AVAX 114,955.66479380 4,287 3,273 0.62 % Net assets $ 122,519 $ 526,956 100.00 % See accompanying notes to the unaudited financial statements.

View Full Filing

View this 10-Q filing on SEC EDGAR