Grayscale Launches Chainlink (LINK), Filecoin (FIL), Basic Attention Token (BAT) Trusts

Grayscale Investments today unveiled five new crypto trusts geared toward institutional investors.

Grayscale Expands Its Crypto Products Suite

According to a Bloomberg report published on March 17, U.S.-based digital assets titan Grayscale has launched five new crypto-based trusts.

Specifically, these trusts enable institutional investors to gain exposure to altcoins such as Chainlink (LINK), Livepeer, Filecoin (FIL), Basic Attention Token (BAT), and Decentraland (MANA).

It is worthy of note that the aforementioned funds are Grayscale’s first since early 2019 and arrive after a “robust process” of gauging digital assets’ demand from institutional investors in addition to assessing the integrity of the underlying protocols.

Commenting on the development, Grayscale CEO, Michael Sonnenshein noted:

“At any one time, we’re probably maintaining a list of what could be 30 products, could be 40 products that we’re interested in bringing to market. We’re trying to always reconcile where we may find compelling opportunities in the digital assets ecosystem and trying to reconcile where investors are interested in deploying capital.”

Sonnenshein added:

“There are many Grayscale scale products that have historically been a little bit before their time before they began to resonate with investors sufficiently.”

Notably, the launch of these five crypto trusts brings Grayscale’s total single-asset crypto offering to 13. Unsurprisingly, amongst all its trusts, the $34 billion Bitcoin Trust (GBTC) is Grayscale’s largest.

What’s more, Grayscale’s decision to launch five new crypto funds might just be the beginning of things to come.

As previously reported by BTCManager, Grayscale announced it was exploring the possibility of adding DeFi, interoperability, and privacy-focused digital assets to its currents such as AAVE, Polkadot (DOT), and Monero (XMR).

Grayscale Continues to Push the Envelope

Keen followers of the cryptocurrency industry are well aware of the magnitude at which Grayscale is involved with digital assets.

BTCManager reported in April last year that despite the infamous COVID-19-induced crypto crash in March, Grayscale continued to go big on both bitcoin and ether.

On a recent note, BTCManager reported that Grayscale could very well be the next company to try its luck by attempting to launch a bitcoin ETF in the U.S.