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Grayscale Incorporates Yearn.Finance Trust as YFI Soars to $45K

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Grayscale has formed a new trust for DeFi darling Yearn.Finance (YFI).

Leading cryptocurrency asset manager Grayscale could potentially launch a new trust for Yearn.Finance (YFI).

Delaware Trust Company, the company’s statutory trustee, recently registered the above-mentioned product, according to its Feb. 10 filing.

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PayPalImage by icis.corp.delaware.govLast month, Grayscale also formed a slew of trusts for such cryptocurrencies as Chainlink (LINK), Tezos (XTZ), Cardano (ADA),

However, the asset manager noted that these products would not necessarily be brought to market:

Occasionally, we will make reservation filings, though a filing does not mean we will bring a product to market. Grayscale has and will continue to announce when new products are made available to investors.

As per its most recent update, Grayscale currently has $36.2 billion worth of assets under management, with its Bitcoin trust accounting for $29.7 billion of the aforementioned sum.

The firm’s XRP trust was terminated in January after Ripple Labs got sued by the U.S. Securities and Exchange Commission.

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Yearn.Finance’s governance tokens hits an all-time high

Yearn.Finance’s YFI token is currently among the best-performing cryptocurrencies over the past 24 hours.

Earlier today, the token surpassed the $45,000 level for the first time in history, reaching a new all-time high of $45,895 on FTX.

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The token—which was originally deemed to be completely valueless— swiftly became a fixture in the decentralized finance industry together with Andre Cronje, the founder of the Yearn.Finance protocol.