![]() ![]() Potential investors in any Product should carefully consider the long-term nature of an investment in that Product prior to making an investment decision. As a result, the shares of each Product are restricted and subject to significant limitations on resales and transfers. The Products are offered in private placements pursuant to the exemption from registration provided by Rule 506(c) under Regulation D of the Securities Act and are only available to accredited investors. The shares of each Product are not registered under the Securities Act of 1933 (the “Securities Act”), the Securities Exchange Act of 1934 (except for Products that are SEC reporting companies), the Investment Company Act of 1940, or any state securities laws. This material is strictly for illustrative, educational, or informational purposes and is subject to change. This information should not be relied upon as research, investment advice, or a recommendation regarding any products, strategies, or any security in particular. Because each Product does not currently operate a redemption program, there can be no assurance that the value of such Product’s shares will reflect the value of the assets held by such Product, less such Product’s expenses and other liabilities, and the shares of such Product, if traded on any secondary market, may trade at a substantial premium over, or a substantial discount to, the value of the assets held by such Product, less such Product’s expenses and other liabilities, and such Product may be unable to meet its investment objective. The shares of each Product are intended to reflect the price of the digital asset(s) held by such Product (based on digital asset(s) per share), less such Product’s expenses and other liabilities. ![]() Grayscale Products are not suitable for any investor that cannot afford loss of the entire investment. ![]() Investments in the Products are speculative investments that involve high degrees of risk, including a partial or total loss of invested funds. Read these documents carefully before investing. Reports prepared in accordance with the OTC Markets Alternative Reporting Standards are not prepared in accordance with SEC requirements and may not contain all information that is useful for an informed investment decision. This and other information can be found in each Product’s private placement memorandum, which may be obtained from Grayscale and, for each Product that is an SEC reporting company, the SEC’s website, or for each Product that reports under the OTC Markets Alternative Reporting Standards, the OTC Markets website. Investments managed by GSA are registered under the Investment Company Act of 1940 and subject to the rules and regulations of the Securities Act of 1933 and Investment Advisers Act of 1940.Ĭarefully consider each Product’s investment objectives, risk factors, fees and expenses before investing. ![]() Grayscale is not registered as an investment adviser under the Investment Advisers Act of 1940 and none of the investment products sponsored or managed by Grayscale (“Products”) are registered under the Investment Company Act of 1940. Grayscale Investments, LLC (“Grayscale”) is the parent holding company of Grayscale Advisors, LLC (“GSA”), an SEC-registered investment adviser, as well Grayscale Securities, LLC (“GSS”), an SEC-registered broker/dealer and member of FINRA. For additional information, visit the OTC Markets website at ‡ As of *Represents the Products’ Market Price per Share as quoted on the OTC Marketplace. To date, these Products have not met their investment objective and the Shares of such Products quoted on OTCQX have not reflected the value of digital assets held by such Product, less such Product’s expenses and other liabilities, but instead have traded at both premiums and discounts to such value, with variations that have at times been substantial. *Products displayed with a Market Price per Share also maintain a public quotation on the OTC Marketplace. If you would like to see how Holdings is calculated, please refer to the applicable Product’s disclosure language on OTC Markets or in its private placement memorandum. **Digital Asset Holdings per share is calculated daily at 4pm ET, based on the applicable CoinDesk Index or Reference Rate. Past performance is not necessarily indicative of future results.įor NAV Per Share and AUM calculated in accordance with US GAAP Methodology, see here. ![]()
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