Filecoin, Chainlink and Basic Attention Token now at Grayscale
The largest digital asset manager has expanded its trust product range. Grayscale’s announcement immediately sparked a share price firestorm.
Grayscale is the undisputed top dog among crypto asset managers. The Bitcoin Trust (GBTC) alone now bundles more than three percent of the total bitcoin in circulation. The fact that Filecoin (FIL), Chainlink (LINK), Basic Attention Token (BAT), Decentraland (MANA) and Livepeer (LPT) now cover underdogs rather Bitcoin Code than trusts is evidence of a fundamental confidence in crypto market growth.
Grayscale announcement sparks share price fireworks
As can be seen from the corresponding press release, the new quintet swells the display of single-asset investment products to 14 trusts. But this might not be the end of the story. In an interview with Bloomberg, Grayscale CEO Michael Sonnenshein revealed that in future he intends to cover up to 40 trusts. However, these are not intended for the average investor. Trading is only open to institutional and accredited investors.
Nevertheless, interest has risen rapidly in recent months. According to Sonnenshein, „investor demand has never been as high as it is today“. Every day, „new market participants“ are joining, which means that „digital currencies have reached a tipping point“.
Expectations that grayscale trusts could give the fivesome a growth boost have already been clearly priced into the daily chart. Chainlink is posting a 24-hour gain of 8.2, Decentraland of 2.4 per cent, while Filecoin is up an impressive 30 and Basic Attention Token is up 41 per cent. The absolute outlier, however, is Livepeer with a jerky rise of 104 per cent.