GDLC：超过80％的比特币

自从我上次寻求Alpha文章涵盖Grayscale Digital大型CAP基金（OTCQX：GDLC）以来，大约五个月了。这是我涵盖的基金

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的数字大型CAP基金（OTCQX：GDLC）是一个封闭基金，它通过市值投资了最大的加密货币的投资组合。它提供了一种方便而多元化的方式，可以吸引数字货币领域，但是最近几个月，该基金变得更具吸引力。

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日的最后一次报告，比特币占该基金投资组合的80.8％。这是一个令人难以置信的集中度，尤其是考虑到该基金包括其他主要的加密货币，例如以太坊，占该基金的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.

鉴于比特币在2023年经历的大量价格升值，GDLC中的比特币加权水平更加值得注意。随着比特币的价格在一年中大幅上涨，而其他主要山寨币（如2023年）的其他主要山寨币在2023年相对平坦，这是可以理解的，为什么比特币对基金的总回报的贡献是可以更大的。

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，尽管该基金的投资组合相对较小，其中只有五个加密货币，但它为数字货币市场提供了广泛的敞​​口。该基金还包括向美国大型大型股票的一篮子分配，这为市场波动提供了对冲。

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.

总体而言，Grayscale的数字大型CAP基金是一个独特而有趣的投资选择，对于那些寻求多元化且高收益的闭门基金而着重于加密货币敞口的人。

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.

该基金目前正在以小额溢价交易，与其他封闭式基金相比，这相对较小。 GDLC的股息收益率为7.1％，提供了可观的收入来源，进一步提高了其对投资者的吸引力。

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.

总之，Grayscale的数字大型CAP基金提供了令人信服的投资机会，提供多样化，高收益和加密货币市场的资本增值潜力。

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.

分析师的披露：我/我们在BTC-USD，ETH-USD，Sol-USD的股票中具有有益的长期头寸，可以通过股票所有权，期权或其他衍生品。我自己写了这篇文章，并表达了自己的意见。我没有获得赔偿（除了寻求alpha以外）。我与本文中提到股票的任何公司没有业务关系。

I'm not an investment advisor.

我不是投资顾问。

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.

寻求Alpha的披露：过去的表现并不能保证未来的结果。对于任何投资是否适合特定投资者，没有任何建议或建议。上面表达的任何观点或观点可能都不能反映出整个Alpha的观点。第三方作者撰稿人寻求者未获得任何研究所或监管机构的许可或认证。输出：Grayscale的数字大型CAP基金（OTCQX：GDLC）是一个封闭式基金，它投资于按市场上限按最大加密货币的最大加密货币投资组合。它提供了一种方便而多元化的方式来获得数字货币领域的敞口。该基金还以其高股息收益率和资本增值的潜力而闻名。

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年初覆盖，从那以后提到六次，该基金在最近几个月变得更加有吸引力。这是由于几个因素，包括比特币（BTC-USD）所经历的大量价格欣赏。

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日的最后一次报告，BTC占该基金投资组合的80.8％。这是一个令人难以置信的集中度，特别是考虑到该基金包括其他主要的加密货币，例如以太坊（ETH-USD），该货币占该基金的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.

鉴于一年中BTC的价格大幅提高，GDLC中BTC加权的水平甚至更为值得注意，与2023年ETH（例如ETH）的相对平稳性能形成鲜明对比。

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对该年度总回报的贡献比例更大，而回报率为108.3％，而ETH的回报率为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.

尽管该基金的投资组合相对较小，只有五个加密货币，但它为数字货币市场提供了广泛的敞​​口。该基金还包括向美国大型大型股票的一篮子分配，这为市场波动提供了对冲。

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.

总体而言，Grayscale的数字大型CAP基金是一个独特而有趣的投资选择，对于那些寻求多元化且高收益的闭门基金而着重于加密货币敞口的人。

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.

该基金目前正在以小额溢价交易，与其他封闭式基金相比，这相对较小。此外，GDLC的股息收益率为7.1％，提供了可观的收入来源，进一步提高了其吸引力。

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

总而言之，Grayscale的数字大型CAP基金提供了令人信服的投资机会，提供多元化，