FINRA approves Grayscale DLC; basket includes Bitcoin, Ethereum, XRP

Grayscale Investments got a green light from FINRA for a publicly-quoted security that derives its value from a basket of digital currencies, similar to ETF. The news was made official through a press release, which read,

“Shares of Grayscale® Digital Large Cap Fund (DLC) have received approval from FINRA for public quotation under symbol: GDLCF on OTC Markets.”

This marks the introduction of the first publicly-quoted security in the U.S. deriving value from a diverse selection of digital currencies, to which Grayscale tweeted that “Our team continues to bring new opportunities for investors to gain exposure to digital currencies.”

While a cryptocurrency exchange-traded fund (ETF) is yet to receive its regulatory approval, Grayscale DLC claims to allow investments through a diversified basket of large-cap digital currencies, rather than directly buying, storing and safekeeping digital currencies.

As per the official post, DLC’s Fund Components were  last…