Grayscale Altcoin trusts seem to be increasing the amount of Altcoin in the fund. In which, the most likely chosen name is Chainlink. This is considered a good sign for altcoins with smaller capitalization.
— G-Flo [SEMI-REKT] (@G_Flo76) January 15, 2021
Grayscale Altcoin trusts appear to have incorporated a Chainlink trust
Grayscale Investments is one of the most influential companies in the cryptocurrency market. And the first company to offer cryptocurrency exposure to institutional investors. Previously, Grayscale has said that Ethereum is of more interest to customers. So is this the beginning of the institutional investor’s foray into altcoins?
According to the State of Delaware, Grayscale’s Altcoin Trust is secretly increasing in number. Perhaps the most notable of these is the Chainlink Trust. LINK is one of the hottest and fastest-growing cryptocurrencies, having hit the headlines late last year with its staggering rise. It also claims it has over 300 major partnerships.
The State of Delaware’s site shows a Grayscale LINK trust | Source: Division of Corporations
Chainlink trust at the gray level can be seen as a big vote of confidence on LINK and altcoins in general. The more publicly-traded entities exposed to altcoins, the more the public understands the power of these technologies.
Note, merging an entity does not necessarily mean that Grayscale has accrued a LINK or is buying a discount today. Documents on the Delaware site only indicate the existence of such a Trust. What’s inside is still unknown and the link between Grayscale and this belief is best speculated.
Surprisingly, some small and medium cap alts were also seen in the list, such as Livepeer (LPT) and Horizen (ZEN).
Grayscale currently offers crypto exposure to the public | Source: Grayscale.co
All of these corporate entities are filed with the Delaware Trust Company in Wilmington, Delaware. Delaware, a US state with less than a million people, is notoriously attractive for its business-friendly tax laws.
Grayscale’s current offerings include diverse fiduciary and fiduciary trusts providing exposure to nine different crypto assets separately. The company has not announced any specific plans to expand into other crypto assets.