Grayscale Investments appears to have incorporated a Chainlink (LINK) trust, as well as trusts for other smaller altcoins. Are there more trusts on the way? Grayscale is solely enabling investors to gain crypto exposure in the form of security while avoiding the challenges of buying, storing, and safekeeping them directly. It is a comfortable crypto vehicle for the institutions as mentioned previously here.
It is the world’s largest digital currency asset manager, with more than $20.2B in assets under management, as of December 31, 2020. Grayscale provides secure access to the digital currency asset class for accredited investors through its single-asset and diversified investment products. Shares of Grayscale’s investment products are titled securities and IRA-eligible.
The company believes that the Shares represent a cost-effective and convenient way to gain digital asset exposure relative to a direct investment in digital assets.
Well, according to the State of Delaware, Grayscale’s altcoin trusts are secretly quite growing in number.
Documents available on the State of Delaware Division of Corporations show several Grayscale products that are not open to the public or listed on its website. Grayscale Chainlink Trust is one of them which is nowadays one of the hottest cryptocurrencies with huge potential. Other altcoins to be listed are Tezos, Filecoin, and Horizen.
Chainlink is the most widely used decentralized oracle network, currently securing billions in USD value for live applications across numerous blockchains and use cases. Chainlink is not a single oracle network but an ecosystem consisting of numerous decentralized oracle networks running in parallel. Each oracle network can provide a multitude of oracle services without cross dependencies on other oracle networks.
Chainlink is the bridge connecting real-world data with blockchain smart contracts. Traditional banking is becoming obsolete and the future is decentralized finance although we are quite far away. DeFi protocols are automated, algorithmically-governed money management systems that essentially skip out on the need for human moderation in financial services and products. Most of the DeFi protocols are running on the ETH network as explained in the recent article but still they need data from traditional finance and here come the oracle network projects such as Link, Band, Dos, API3, Dia, Tellor.
A new plan confirmed?
Grayscale’s current offerings include diversified trusts and trusts that offer exposure to nine different crypto assets separately. The company had not announced any definite plans to expand into other crypto assets hence the information about the new trusts need to be confirmed.