Grayscale Investments, a leading digital asset management firm, has officially launched the “Grayscale Chainlink Trust,” providing institutional investors with a regulated vehicle to gain exposure to Chainlink (LINK) without the complexities of directly managing cryptocurrency. The move underscores growing interest in Chainlink as a key player in the decentralized oracle space and marks a significant development in the integration of cryptocurrency into traditional financial markets.
Grayscale Chainlink Trust offers investors exposure to $LINK without the hassle of directly buying, storing, or safekeeping it.
— Grayscale (@Grayscale) December 13, 2024
Open for private placement for eligible accredited investors.
See important disclosures or speak to a team member: https://t.co/Y3D0XeSwTP pic.twitter.com/APE2HkYtdk
The Grayscale Chainlink Trust passively invests in LINK, following the CoinDesk Chainlink Price Index (LNX), which aggregates real-time prices from multiple trading platforms to track LINK’s market value in USD. The Trust is listed under the ticker symbol “GLNK” on OTC Markets Group, allowing investors to purchase shares through standard brokerage accounts, making it more accessible to institutional investors seeking a simplified way to participate in the growing Chainlink ecosystem.
Grayscale’s Chainlink Trust was initially established on February 26, 2021, and began trading on May 19, 2022. It charges a 2.5% management fee, with no additional distribution or performance fees, although the shares do not pay dividends. This structure aims to reflect the market price of LINK while accounting for costs and fees.
Also Read: Chainlink (LINK) Sees Surge in Activity but Faces Selling Pressure – Will It Rebound?
The announcement of the Trust comes on the heels of significant market movements for LINK. Just one day prior, the World Liberty Financial Initiative (WLFI), a project backed by Donald Trump, purchased more than 41,000 LINK tokens for $1 million. This acquisition sparked a 20% surge in LINK’s price, pushing it to $28.40. In the wake of this, large cryptocurrency investors followed suit, with one purchasing nearly $5 million worth of LINK at an average price of $28.18. The surge pushed Chainlink’s market capitalization to $17 billion, with trading volume climbing to $3.1 billion.
Grayscale’s launch of the Chainlink Trust highlights the increasing demand for LINK-based financial products and positions the cryptocurrency as a significant asset for institutional investors looking to diversify into blockchain technology and decentralized finance (DeFi).
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
About The Author
