GDLC launches redemptions, lists on NYSE Arca; net assets fall 51% on crypto decline

Filed May 5, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 2, 2025 · ~1 min read

Key Changes

• high

  Fund launched redemption program and NYSE Arca listing in September 2025, ending years of substantial premiums/discounts to NAV. Shares now trade with tighter NAV tracking via creation/redemption mechanism.

  MD&A: Redemption Program verify on EDGAR →
• high

  Net assets declined 51% to $379 million over nine months ended March 31, 2026, driven by digital asset price depreciation and $320 million in redemptions following the new redemption program launch.

  MD&A: Net Asset Change verify on EDGAR →
• high

  Fund switched from proprietary DLCS methodology to CoinDesk 5 Index (CD5) in June 2025, changing asset selection criteria and valuation methodology from Digital Asset Reference Rates to Index Prices.

  MD&A: CD5 Index Adoption verify on EDGAR →