Is Grayscale about to launch a trust on LINK?

Is Grayscale about to launch a trust on LINK?

Mysterious documents suggest that Grayscale may soon launch new products based on LINK, BAT, MANA, LPT and XTZ
Grayscale Investments could be about to launch a number of new products, including a trust on Chainlink, according to some new documents. According to the State of Delaware’s Division of Corporations, someone established the Grayscale Chainlink Trust on 18 December 2020.

On the same day, trusts were started on Basic Attention Token (BAT), Decentraland (MANA), Livepeer (LPT) and Tezos (XTZ). However, it should be noted that Grayscale has not yet confirmed these openings: some reports have questioned their legitimacy, as the registered Bitcoin Evolution agent for the trusts is the ‘Delaware Trust Company’ and not Grayscale.

At the same time, the Delaware Trust Company is listed on Grayscale’s website as one of its official service providers, and the same details were used for the Grayscale Bitcoin Trust in 2013.

Even so, the launch of new trusts is far from imminent. A Filecoin trust (FIL) was established in October 2020, which has yet to officially debut to the general public.

Moreover, a few weeks after the launch of these trusts, Grayscale founder and CEO Barry Silbert resigned and was replaced by Michael Sonnenshein. It is unclear whether Sonnenshein will continue Silbert’s strategy or take the company in a new direction.

Grayscale filed papers for a Stellar Lumen (XLM) trust in October 2018, more than two years ago

Most of Grayscale’s digital asset trusts are opened within days of the legal filing date listed on the Delaware website.

Chainlink’s vociferous supporters have taken to Twitter to express their support for the future product, speculating on what effect this might have on the price of the token. Twitter user ‘Bitcoin Collector’ stated:

“We all know how much buying power Grayscale has”.

At the time of writing this article, Chainlink is the seventh largest crypto by market cap, at around $9 billion, with a unit price hovering around $23.40.