Grayscale Launches Investment Trusts for Chainlink and Four Other Cryptos

Leading cryptocurrency asset manager, Grayscale has added five new cryptocurrencies to its suite of Investment Trusts. Precisely, the company has launched Trusts product for Chainlink (LINK), Basic Attention Token (BAT), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT). 

Per the press statement on Wednesday, the new offerings reflect the growing interest and demand for digital currencies amongst global investors.

Grayscale now offers 14 crypto Trusts

The newly-listed cryptocurrency Trusts products are currently open for daily subscription by both retail and institutional accredited investors. These investment products provide investors exposure to the underlying cryptocurrencies without managing the cryptos themselves. This better serves institutional investors who don’t seek to direct exposure to participate in the burgeoning asset class.

“Digital currencies have reached an inflection point. Investor demand has never been higher, and every day we’re seeing new entrants to what has surely become a bona fide asset class,” said Grayscale CEO Michael Sonnenshein. 

In total, Grayscale now offers 14 cryptocurrency investment Trusts, which includes other popularly-traded digital currencies like Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and many others. The Trusts are solely invested in the underlying cryptocurrencies, as Grayscale asserted in the report.

Grayscale on pace to US$50 million AUM

Currently, Grayscale has almost $43 billion in assets under management (AUM). The Bitcoin Trusts have the largest share, as it accounts for over US$36 billion of the total AUM, followed by the Ether product, which holds US$5.6 billion. 

One can expect the company’s AUM to surpass US$50 billion in the coming days, following the addition of the five cryptocurrencies. Meanwhile, the price of Chainlink increased to about US$30, which represented about a 9.65 percent increase on the 24 hours chart, just some hours after the announcement. BAT and a few other cryptocurrencies listed by the company were also seeing a mild increase in market price.