Grayscale Digital Large Cap Fund LLC 10-Q Filing

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Filing Documents

• gdlc-20241231.htm (10-Q) — 2385KB
• gdlc-ex31_1.htm (EX-31.1) — 23KB
• gdlc-ex31_2.htm (EX-31.2) — 23KB
• gdlc-ex32_1.htm (EX-32.1) — 8KB
• gdlc-ex32_2.htm (EX-32.2) — 8KB
• img242343896_0.jpg (GRAPHIC) — 1238KB
• img242343896_1.jpg (GRAPHIC) — 1011KB
• img242343896_2.jpg (GRAPHIC) — 704KB
• 0000950170-25-014183.txt ( ) — 14016KB
• gdlc-20241231.xsd (EX-101.SCH) — 469KB
• gdlc-20241231_htm.xml (XML) — 1459KB

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 December 31, 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 35 Item 3. Defaults Upon Senior Securities 36 Item 4. Mine Safety Disclosures 36 Item 5. Other Information 36 Item 6. Exhibits 37 GLOSSARY OF DEFINED TERMS 38

SIGNATURES

SIGNATURES 43 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 ("GSI"), the manager of the Fund before January 1, 2025, Grayscale Operating, LLC ("GSO"), the co-manager of the Fund from January 1, 2025 to May 3, 2025, and Grayscale Investments Sponsors, LLC ("GSIS"), the co-manager of the Fund from January 1, 2025 to May 3, 2025 and the sole remaining manager thereafter (each of GSI, GSO and GSIS, the "Manager", as the context may require, and GSO and GSIS, together, the "Co-Managers"), 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, thos

– 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) December 31, 2024 June 30, 2024 Assets: Investments in digital assets, at fair value (cost $ 122,094 and $ 122,519 as of December 31, 2024 and June 30, 2024, respectively) $ 738,200 $ 526,956 Total assets $ 738,200 $ 526,956 Liabilities: Manager's Fee payable, related party $ - $ - Total liabilities - - Net assets $ 738,200 $ 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 $ 46.52 $ 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) December 31, 2024 Quantity Cost Fair Value % of Net Assets Investment in Bitcoin 5,902.10393657 $ 72,774 $ 551,199 74.67 % Investment in Ether 35,952.79937681 17,997 120,096 16.27 % Investment in XRP 16,878,348.199492 9,840 35,445 4.80 % Investment in SOL 140,005.07440468 17,039 27,117 3.67 % Investment in AVAX 121,274.07608545 4,444 4,343 0.59 % Net assets $ 122,094 $ 738,200 100.00 % 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. 5

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