GDLC - BitWise 10 Crypto Index Fund: Expensive Access To Crypto Coupled With Complicated Tax Treatment
- I have been trading in and out of GDLC, the Grayscale Digital Large Cap Fund, for a couple of months due to its wide discount to NAV.
- Before engaging in such trades, I did consider investing in the Bitwise 10 Crypto Index Fund, which also has a large discount to NAV, in lieu of GDLC.
- After weighing the merits, however, I determined that the Bitwise 10 Crypto Index Fund is the less favorable NAV arbitrage trade, primarily because of its K-1 partnership tax treatment.
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BitWise 10 Crypto Index Fund: Expensive Access To Crypto, Coupled With Complicated Tax Treatment