Friday, June 18, 2021

Grayscale Trust Incorporates Chainlink (LINK), Tezos (XTZ), and Four Other Assets

The world’s largest crypto asset manager, Grayscale Investments, has reportedly incorporated six more trusts, including those that tied to Chainlink (LINK) and Tezos (XTZ) digital currencies.

According to the report, the trusts were formed by Delaware Trust Company, Grayscale’s “statutory trustee,” in late 2020.

Aside from Chainlink (LINK) and Tezos (XTZ), the remaining four trusts incorporated include Basic Attention Token (BAT), Decentraland (MANA), Livepeer (LPT), and Filecoin (FIL).

Read Also: Grayscale Ethereum Trust Becomes SEC Reporting Company. How Would ETH Benefit? Details

Except for the Filecoin (FIL), which was incorporated in October, all other trusts were formed in December 2020.

Speaking to The Block, the CEO of Grayscale Investments, Michael Sonnenshein, said the trust formations do not imply that Grayscale will launch these products now.

Sonnenshein noted:

“Grayscale is always looking for opportunities to offer products that meet investor demands. Occasionally, we will make reservation filings, though a filing does not mean we will bring a product to market. Grayscale has and will continue to announce when new products are made available to investors.”

Grayscale is the largest crypto asset manager in the world. It currently manages $25.5 billion worth of assets across its products. However, its Bitcoin (BTC) product boasts the lion’s share of the total assets under management (AUM) at over $21 billion.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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