Grayscale Digital Large Cap Fund Changes Certifying Accountant

TL;DR

Grayscale Digital Large Cap Fund LLC just switched its auditor. Keep an eye on why.

AI Summary

Grayscale Digital Large Cap Fund LLC filed an 8-K on March 6, 2024, reporting a change in its certifying accountant as of March 1, 2024. The filing does not disclose the specific name of the new accountant or the reason for the change, but it indicates a transition in their auditing services.

Why It Matters

A change in a fund's certifying accountant can signal potential issues with previous audits or a strategic shift in financial oversight, which investors should monitor.

Risk Assessment

Risk Level: medium — A change in certifying accountant, especially without immediate explanation, can sometimes indicate underlying issues or a shift in financial reporting scrutiny.

Key Players & Entities

• Grayscale Digital Large Cap Fund LLC (company) — Registrant
• March 1, 2024 (date) — Date of earliest event reported
• March 6, 2024 (date) — Date of report

FAQ

Filing Documents

• gdlc-20240301.htm (8-K) — 46KB
• gdlc-ex16_1.htm (EX-16.1) — 5KB
• 0000950170-24-027119.txt ( ) — 172KB
• gdlc-20240301.xsd (EX-101.SCH) — 29KB
• gdlc-20240301_htm.xml (XML) — 5KB

01 Changes in Registrant's Certifying Accountant

Item 4.01 Changes in Registrant's Certifying Accountant. (a) Dismissal of Previous Independent Registered Public Accounting Firm On March 1, 2024, the Audit Committee of the Board of Directors of Grayscale Investments, LLC, the manager (the "Manager") of Grayscale Digital Large Cap Fund LLC (the "Fund"), approved the dismissal of the current independent registered public accounting firm of the Fund, Marcum LLP ("Marcum"), effective following the completion of the audit of the Fund's financial statements for the fiscal year ending June 30, 2024. Marcum's responsibilities as the Fund's independent registered public accounting firm will cease upon completion of the audit engagement. Effective September 1, 2022, the Manager was notified that certain assets of Friedman LLP ("Friedman"), the Fund's independent registered public accounting firm for the fiscal year ending June 30, 2022, were acquired by Marcum. On September 27, 2022, the Audit Committee of the Board of Directors of the Manager approved the dismissal of Friedman and the engagement of Marcum to serve as the independent registered public accounting firm of the Fund. As of September 1, 2022, the services previously provided by Friedman were provided by Marcum. The reports of Marcum and Friedman on the financial statements of the Fund for the years ending June 30, 2023 and 2022, respectively, contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principle, except for the inclusion of an emphasis of matter paragraph with respect to investments in digital assets. In connection with the audits of the years ending June 30, 2023 and 2022 and the subsequent interim period from July 1, 2023 through March 1, 2024, there have been no "disagreements" (as defined in Item 304(a)(1)(iv) of Regulation S-K promulgated under the Exchange Act ("Regulation S-K") and the related instructions thereto) with Marcum or Friedman on any matter of accou

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 16.1 Letter, dated March 6, 2024 from Marcum LLP to the SEC, regarding change in certifying accountant of the Fund. 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Grayscale Investments, LLC as Manager of Grayscale Digital Large Cap Fund LLC Date: March 6, 2024 By: /s/ Michael Sonnenshein Michael Sonnenshein Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR