Grayscale Investments Files for Digital Large Cap Fund etftrends.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from etftrends.com Daily Mail and Mail on Sunday newspapers.
Grayscale Files Registration Statement with the SEC
May 13, 2021 @ 9:48 am By JD Alois
Grayscale, a large digital asset manager that offers publicly listed funds that hold crypto, has filed a registration statement with the Securities and Exchange Commission for the Grayscale Digital Large Cap Fund.
The Fund is an investment vehicle that allows investors to participate in asset allocations that incorporate digital assets by using the Fund’s shares.
Grayscale states that this move reflects Grayscale’s commitment to move Grayscale Digital Large Cap Fund forward through the product pipeline as part of Grayscale’s roadmap to launching digital currency ETFs (exchange-traded funds).
Alteryx (NYSE: AYX),
Grayscale Digital Large Cap Fund (OTC: GDLC) would have a rough few days.
Alteryx stock retreated 5% for the week. Shares of the cloud-based provider of enterprise analytics did initially move higher after it posted better-than-expected quarterly results, but it slipped during the balance of the week.
Cedar Fair dropped by 2% last week. Earnings season didn t help the operator of regional amusement parks, and its shares have declined in the last four trading days.
Finally, there was Grayscale Digital Large Cap Fund. The exchange-traded fund that owns stakes in five leading cryptocurrencies soared 14% last week. It was a great week for digital currencies, and Grayscale soared despite its stiff premium to its net assets. That was enough to sink what was otherwise a good list of stocks to avoid.
Six Flags Entertainment (NYSE:SIX), and
MicroStrategy (NASDAQ:MSTR) would have a bad week.
Coinbase rebounded after tumbling 15% a week earlier. The leading crypto marketplace rose 2% last week.
Six Flags Entertainment took a roller coaster-sized 3.5% dip on the week after posting financial results. Attendance revenue declined 38% and 36%, respectively, in the first quarter, but that was actually a lot better than expected. Several analysts jacked up their price targets on the stock following the quarterly update, but the stock had already discounted a recovery.
Finally we have MicroStrategy as the big winner of the three stocks, rising 7% for the week. MicroStrategy s become a popular coattail play for
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