Grayscale Investments New Trusts: What You Need to Know

What’s Cooking at Grayscale?

Rumors are swirling that Grayscale Investments, the giant in digital currency trusts, might soon unveil a slew of new products, particularly a Chainlink trust. If the hearsay holds water, we might be seeing new offerings that could shake up the crypto scene.

A Dive into Recent Filings

The Delaware Division of Corporations recently unveiled some intriguing filings stashed away like treasures on December 18, 2020. This list is a veritable buffet of possibilities: the Grayscale Chainlink Trust, along with a Basic Attention Token (BAT) trust, a Decentraland (MANA) trust, a Livepeer (LPT) trust, and a Tezos (XTZ) trust were all initiated on that fabled day.

Confirmation or Confusion?

Now before everyone gets their party hats on, let’s pump the brakes a little. Grayscale hasn’t officially put their stamp of approval on these filings. The registered agent for the trusts is the “Delaware Trust Company,” not Grayscale itself. However, this company is noted on Grayscale’s site as one of its service providers, casting a hopeful glow on the situation.

History and Timing: A Pattern Emerges

Let’s not forget that back in October 2020, a Filecoin (FIL) trust was also set up, yet it has yet to be seen in the wild. And the memory of Grayscale’s last official filing for a Stellar Lumen (XLM) trust in October 2018 is fresh in our minds. The public reveal for Stellar was almost six weeks later—so there’s no telling when we might get some conclusive news on these new trusts.

The Evolution of Leadership

Adding a sprinkle of uncertainty, after these trusts were filed, Barry Silbert, Grayscale’s founder and CEO, stepped back, ushering in Michael Sonnenshein. What does this mean for future trust strategies? Will Sonnenshein follow in Silbert’s footsteps or carve a new path? Only time will tell, and right now, we’re all just curious spectators.

Crypto Community Response

The crypto community is buzzing, especially the Chainlink supporters who are pouncing on Twitter, weighing their thoughts on the trust’s potential impact on token prices. One Twitter personality, “Bitcoin Collector,” offered some support while reminding everyone to hold their enthusiasm until there’s official word from Grayscale.

Chainlink’s Market Position

As it stands, Chainlink has recently outstripped Bitcoin Cash to land the title of the eighth-largest cryptocurrency, boasting a valuation upwards of $9 billion and an all-time high of $23.30. However, the party was short-lived, as it quickly dropped to ninth place, losing a staggering $2.3 billion in just four days, trading now at around $17.80. Talk about a rollercoaster ride!