GDLC：超過80％的比特幣

自從我上次尋求Alpha文章涵蓋Grayscale Digital大型CAP基金（OTCQX：GDLC）以來，大約五個月了。這是我涵蓋的基金

Grayscale's Digital Large Cap Fund (OTCQX:GDLC) is a closed-end fund that invests in a portfolio of the largest cryptocurrencies by market cap. It provides a convenient and diversified way to gain exposure to the digital currency sector, but the fund has become even more attractive in recent months.

Grayscale的數字大型CAP基金（OTCQX：GDLC）是一個封閉基金，它通過市值投資了最大的加密貨幣的投資組合。它提供了一種方便而多元化的方式，可以吸引數字貨幣領域，但是最近幾個月，該基金變得更具吸引力。

As of the last report on December 31, 2023, Bitcoin comprised an astounding 80.8% of the fund's portfolio. This is an incredible concentration, especially considering that the fund includes other major cryptocurrencies such as Ethereum, which made up 9.8% of the fund.

截至2023年12月31日的最後一次報告，比特幣佔該基金投資組合的80.8％。這是一個令人難以置信的集中度，尤其是考慮到該基金包括其他主要的加密貨幣，例如以太坊，佔該基金的9.8％。

This level of Bitcoin weighting in GDLC is even more noteworthy given the significant price appreciation that Bitcoin experienced in 2023. With Bitcoin's price increasing substantially over the year, while other major altcoins like Ethereum remained relatively flat in 2023, it's understandable why Bitcoin's contribution to the fund's total return would be proportionally larger.

鑑於比特幣在2023年經歷的大量價格升值，GDLC中的比特幣加權水平更加值得注意。隨著比特幣的價格在一年中大幅上漲，而其他主要山寨幣（如2023年）的其他主要山寨幣在2023年相對平坦，這是可以理解的，為什麼比特幣對基金的總回報的貢獻是可以更大的。

However, it's important to note that while the fund's portfolio is relatively small, with only five cryptocurrencies included, it offers a broad exposure to the digital currency market. The fund also includes a small allocation to a basket of U.S. large-cap stocks, which provides a hedge against market volatility.

但是，重要的是要注意，儘管該基金的投資組合相對較小，其中只有五個加密貨幣，但它為數字貨幣市場提供了廣泛的敞​​口。該基金還包括向美國大型大型股票的一籃子分配，這為市場波動提供了對沖。

Overall, Grayscale's Digital Large Cap Fund is a unique and interesting investment option for those looking for a diversified and high-yielding closed-end fund with a focus on cryptocurrency exposure.

總體而言，Grayscale的數字大型CAP基金是一個獨特而有趣的投資選擇，對於那些尋求多元化且高收益的閉門基金而著重於加密貨幣敞口的人。

The fund is currently trading at a small premium to NAV, which is relatively modest compared to other closed-end funds. With a dividend yield of 7.1%, GDLC offers a significant income stream, further enhancing its attractiveness to investors.

該基金目前正在以小額溢價交易，與其他封閉式基金相比，這相對較小。 GDLC的股息收益率為7.1％，提供了可觀的收入來源，進一步提高了其對投資者的吸引力。

In conclusion, Grayscale's Digital Large Cap Fund presents a compelling investment opportunity, offering diversification, high yield, and the potential for capital appreciation in the cryptocurrency market.

總之，Grayscale的數字大型CAP基金提供了令人信服的投資機會，提供多樣化，高收益和加密貨幣市場的資本增值潛力。

This article was written by

本文是由

Analyst’s Disclosure: I/we have a beneficial long position in the shares of BTC-USD, ETH-USD, SOL-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

分析師的披露：我/我們在BTC-USD，ETH-USD，Sol-USD的股票中具有有益的長期頭寸，可以通過股票所有權，期權或其他衍生品。我自己寫了這篇文章，並表達了自己的意見。我沒有獲得賠償（除了尋求alpha以外）。我與本文中提到股票的任何公司沒有業務關係。

I'm not an investment advisor.

我不是投資顧問。

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking, a third-party author contributor, is not licensed or certified by any institute or regulatory body.output: Grayscale's Digital Large Cap Fund (OTCQX:GDLC) is a closed-end fund that invests in a portfolio of the largest cryptocurrencies by market cap. It provides a convenient and diversified way to gain exposure to the digital currency sector. The fund is also known for its high dividend yield and the potential for capital appreciation.

尋求Alpha的披露：過去的表現並不能保證未來的結果。對於任何投資是否適合特定投資者，沒有任何建議或建議。上面表達的任何觀點或觀點可能都不能反映出整個Alpha的觀點。第三方作者撰稿人尋求者未獲得任何研究所或監管機構的許可或認證。輸出：Grayscale的數字大型CAP基金（OTCQX：GDLC）是一個封閉式基金，它投資於按市場上限按最大加密貨幣的最大加密貨幣投資組合。它提供了一種方便而多元化的方式來獲得數字貨幣領域的敞口。該基金還以其高股息收益率和資本增值的潛力而聞名。

First covered in early 2022, and mentioned a half dozen times since then, the fund has become even more attractive in recent months. This is due to several factors, including the significant price appreciation that Bitcoin (BTC-USD) has experienced.

首先在2022年初覆蓋，從那以後提到六次，該基金在最近幾個月變得更加有吸引力。這是由於幾個因素，包括比特幣（BTC-USD）所經歷的大量價格欣賞。

As of the last report on December 31, 2023, BTC comprised an astounding 80.8% of the fund's portfolio. This is an incredible concentration, especially considering that the fund includes other major cryptocurrencies such as Ethereum (ETH-USD), which made up 9.8% of the fund.

截至2023年12月31日的最後一次報告，BTC佔該基金投資組合的80.8％。這是一個令人難以置信的集中度，特別是考慮到該基金包括其他主要的加密貨幣，例如以太坊（ETH-USD），該貨幣佔該基金的9.8％。

This level of BTC weighting in GDLC is even more noteworthy given the substantial increase in BTC's price over the year, contrasting with the relative flat performance of major altcoins like ETH in 2023.

鑑於一年中BTC的價格大幅提高，GDLC中BTC加權的水平甚至更為值得注意，與2023年ETH（例如ETH）的相對平穩性能形成鮮明對比。

It's no surprise then that BTC's contribution to the fund's total return for the year was proportionally larger, with a remarkable 108.3% return compared to ETH's 27.3%.

毫不奇怪，BT​​C對該年度總回報的貢獻比例更大，而回報率為108.3％，而ETH的回報率為27.3％。

While the fund's portfolio is relatively small, with only five cryptocurrencies included, it offers a broad exposure to the digital currency market. The fund also includes a small allocation to a basket of U.S. large-cap stocks, which provides a hedge against market volatility.

儘管該基金的投資組合相對較小，只有五個加密貨幣，但它為數字貨幣市場提供了廣泛的敞​​口。該基金還包括向美國大型大型股票的一籃子分配，這為市場波動提供了對沖。

Overall, Grayscale's Digital Large Cap Fund is a unique and interesting investment option for those looking for a diversified and high-yielding closed-end fund with a focus on cryptocurrency exposure.

總體而言，Grayscale的數字大型CAP基金是一個獨特而有趣的投資選擇，對於那些尋求多元化且高收益的閉門基金而著重於加密貨幣敞口的人。

The fund is currently trading at a small premium to NAV, which is relatively modest compared to other closed-end funds. Additionally, with a dividend yield of 7.1%, GDLC offers a significant income stream, further enhancing its attractiveness.

該基金目前正在以小額溢價交易，與其他封閉式基金相比，這相對較小。此外，GDLC的股息收益率為7.1％，提供了可觀的收入來源，進一步提高了其吸引力。

In summary, Grayscale's Digital Large Cap Fund presents a compelling investment opportunity, offering diversification,

總而言之，Grayscale的數字大型CAP基金提供了令人信服的投資機會，提供多元化，