Grayscale Establishes a LINK Fund?

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Chainlink (LINK), which marked the year 2020 with the price increase it caught, may show a similar performance in 2021. LINK, one of the most important projects of the DeFi ecosystem, is now known for Grayscale claims. Judging by the information shared, Grayscale has already taken action to set up a LINK fund.

Grayscale setting up a LINK fund?

Looking at Delaware state registries, it appears that Grayscale has filed for a Chainlink-based trust. Grayscale is seen as one of the largest institutional investment companies in the cryptocurrency industry.

When looking at the official documents, it is seen that the name of the fund is Grayscale Chainlink Trust (LINK). The fact that this is a “Statutory Trust” type of organization means that it can operate outside the state of Delaware.

In a response to a post shared by Pentoshi, a renowned crypto analyst and a staunch LINK supporter, it is seen that Grayscale made similar applications for other funds. Grayscale’s LINK fund application date appears to be December 18, 2020.

Grayscale is after other crypto funds

In the image shared by @ChainlinkStake, it can be seen that Grayscale made similar applications for MANA, LPT, XTZ and FIL as well as LINK. Grayscale has not made an official statement regarding any of these funds, and there is no clear confirmation. The LINK price, on the other hand, has gained 1.5% in the last 1 hour after this news started to spread. It may not be a coincidence that the price of LINK increased by 1.5% in a day when Bitcoin bleeds the whole market.

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Grayscale recently removed XRP from the GDLC fund and also terminated its independent XRP fund. This may have pushed the institution to seek new funds.

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