Altcoins, Cryptocurrency, News

Grayscale Might Be Looking To Incorporate Six More Crypto Trusts

Grayscale Investments is considered the biggest cryptocurrency asset management firm in the world. It has various trusts for the world’s top digital currencies, including Bitcoin (BTC), the world’s largest cryptocurrency by market value, and Ethereum (ETH), the second-ranked cryptocurrency. Its Grayscale Bitcoin Trust (GBTC) is by far the biggest trust fund out of others.

Now rumors are spreading in the cryptocurrency community that the crypto asset manager is looking to add more trusts for new cryptocurrencies. As per some reports, it plans to include six more digital currency trusts.

Single Asset Trust Funds For Six Digital Assets

Grayscale might be looking to incorporate more single-asset trust funds for six new digital currencies as new filings have been made for these new trust funds. Grayscale, however, did not make these filings by itself rather these were made by the company’s partner Delaware Trust Company which serves as the statutory trustee of the company for the United States’ state.

These filings were made in the month of December with the corporations registry of Delaware. Out of the total six trust funds, filing for five cryptocurrencies was made on the 18th of December. These five crypto assets include Chainlink (LINK), Tezos (XTZ), Basic Attention Token (BAT), Livepeer, and Decentraland. While on the other hand, the filing for the Filecoin (FIL) trust fund was made in the month of October.

While talking about the formations of these trust funds, the Chief Executive Officer (CEO) of Grayscale Investments, Michael Sonnenshein, said in a statement that the formation of these trusts does not necessarily mean that the company is planning the launch of these products. He said that they are always in search of opportunities through which they can offer new products to investors that could come upon their demands and requirements. The company will announce whenever a new product is introduced to investors, he said.

Though this news is still a rumor, this has really affected Chainlink’s cryptocurrency LINK in a positive way, whose price value skyrocketed to a new all-time high value of $25 following it.

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