For several months now, there has been speculation as to which new altcoin-related Trusts Grayscale will launch. Today, it seems that question has an answer. The Chainlink Trust is getting a lot of attention, but other altcoins are on the list too.
Grayscale Files For A Chainlink Trust
It was a matter of time until institutional-oriented service provider Grayscale added new Trusts to its services suite. The rumor mill has been grinding for months now, without any tangible evidence to speak of. Today, the situation has changed a bit. Grayscale has filed six new Trust filings in recent months, even though none of them live yet.
Grayscale can launch Trusts for Chainlink, Decentraland, Filecoin, Livepeer, Tezos, and Basic Attention Token, based on the filings. An intriguing collection of altcoins, as they don’t all make sense. Adding Chainlink seems logical, as the project has a market cap of over $8 billion. For the other projects, it remains unclear what the future will hold.
On social media, the LINK Marines are over the moon with the news. Not surprising, as they think this will bring more institutional attention to LINK. Some even expect Grayscale to push the LINK price to $100 shortly. Currently, Chainlink trades at $20.14, which is well below that expected price point. Assuming Grayscale launches this Chainlink Trust, there may be some price action in the future.
There is no indication if and when the Chainlink Trust will come to market for the time being. The filing dates back to late December 2020, which doesn’t add much information. It is also worth noting that, despite filing for this Trust, it doesn’t mean Grayscale will ever launch it. The company may be merely filing for the name rather than launching a new product.
What About The Other Altcoins?
Looking beyond the Chainlink Trust, Grayscale seemingly has plans for other altcoins. Basic Attention Token, Decentraland, Livepeer, and Tezos are all intriguing choices. In the case of Tezos, one can plead the case, as it is a somewhat successful venture to date. The others, however, are all relatively niche altcoin markets.
The choice for Filecoin is rather surprising. Following the coin’s launch, its price has risen and fallen spectacularly. The all-time high of $208.95 for FIL has not been seen since mid-October 2020. Today, Filecoin trades at $21.8, and is seemingly incapable of making any headway.
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