Material Event - Form 8-K

Item 8.01 Other Events.

On May 2, 2024, CoinDesk Indices, Inc. (the "Reference Rate Provider") announced a change to the Constituent Trading Platforms used to calculate the Digital Asset Reference Rate for certain Fund Components of Grayscale Digital Large Cap Fund LLC (the "Fund").

The Fund values each Fund Component it holds for operational purposes by reference to a "Digital Asset Reference Rate." The Digital Asset Reference Rate for each Fund Component, at any time, is the Indicative Price for such Fund Component as of 4:00 p.m., New York time, on the most recent business day. The "Indicative Price" is a volume-weighted average price in U.S. dollars of a digital asset for the immediately preceding 60-minute period derived from data collected from Digital Asset Trading Platforms trading such Fund Component (each, a "Constituent Trading Platform") selected by the Reference Rate Provider.

Prior to the changes announced on May 2, 2024, the Constituent Trading Platforms used to calculate the Indicative Price for each respective Fund Component were as follows:

Effective May 2, 2024, the Reference Rate Provider removed Kraken as a Constituent Trading Platform used to calculate the Indicative Price for ETH and added LMAX Digital as a Constituent Trading Platform, due to LMAX Digital exceeding Kraken in trading volume for ETH. As of the date of this current report, the Constituent Trading Platforms used to calculate the Indicative Price for each respective Fund Component were as follows:

The Reference Rate Provider may change the trading venues that are used to calculate a Digital Asset Reference Rate, or otherwise change the way in which a Digital Asset Reference Rate is calculated, at any time. For example, the Reference Rate Provider has scheduled quarterly reviews, in which it may add or remove Constituent Trading Platforms that satisfy or fail the criteria described in "Item 1. Business-Overview of the Digital Asset Industry and Market-Fund Component Value-Digital Asset Reference Rates" in the Fund's Annual Report on Form 10-K for the year ended June 30, 2023, as filed with the Securities and Exchange Commission on September 1, 2023.

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