secwatch.observer — SEC 8-K summary
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Issuer:     Grayscale CoinDesk Crypto 5 ETF (GDLC)
CIK:        0001729997
Form:       8-K
Filed at:   2025-06-30T23:59:59+00:00
Accession:  0000950170-25-091216
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 1.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Grayscale Digital Large Cap Fund enters prime broker agreement with Coinbase; effective upon NYSE Arca uplisting
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- Agreement with Coinbase entities covers custody and prime brokerage services; effective on date GDLC shares begin trading on NYSE Arca as ETP.
- Fund's assets held in cold storage vault balance and hot settlement balance; private keys sharded and distributed globally.
- Custodian liability capped at $100M per cold storage address; total liability caps based on fees or $5M.
- Manager pays annualized fee as percentage of AUM monthly; plus monthly fee for creation/redemption withdrawals.
- Previous custodian agreement terminated; risk factors updated in Exhibit 99.1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1729997/000095017025091216/0000950170-25-091216-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1729997/000095017025091216/gdlc-20250625.htm
  HTML page:      https://secwatch.observer/filing/0000950170-25-091216

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