Is Digital Asset Powerhouse Grayscale Looking to Add LINK, XTZ, FIL, BAT, & MANA Trusts?

Is Digital Asset Powerhouse Grayscale Looking to Add LINK, XTZ, FIL, BAT, & MANA Trusts?

Is Grayscale setting up to create a series of new digital asset trusts? The question arises after new filings were discovered via the State of Delaware’s Division of Corporations where someone set up a Grayscale ChainLink Trust dated to Dec 18th, 2020.

Adding more credence to a new push for digital asset trusts came on the same day when a further four trusts were created for Basic Attention Token (BAT), Decentraland (MANA), LivePeer (LPT), and Tezos (XTZ).

What lends more validity to speculation that this is the start of an official move by Grayscale is its working relationship with the Delaware Trust Company. In the past, Grayscale filed its Bitcoin Trust through the same entity in 2013 and is currently listed on their website as a service provider.

On the other hand, Grayscale is not the one listed as the agent on these trusts; instead, ‘Delaware Trust Company’ is the one listed. Those looking on with enthusiasm should also be aware that the attrition rate associated with trusts make them far from a sure thing. In October 2020, for example, a Filecoin Trust (FIL) was introduced, with very little in the way of developments from it since. Grayscale also filed a trust for Stellar Lumen (XLM) back in October 2018 but was made public within six weeks.

Trust Uncertainty – Shake-ups at Grayscale

A change in leadership at Grayscale may also throw all 5 of these trusts into uncertainty. A few weeks after these trusts were put forward, Founder & CEO of Grayscale, Barry Silbert, announced that he would be stepping down and was later replaced with Michael Sonnenshein. It’s uncertain whether his successor will stay the course with Silbert’s exit or take the company down his path.

Regardless of the speculation surrounding these five trusts, advocates for ChainLink (LINK) didn’t hesitate in taking to social media to express their support of Grayscale. Over the last few months, Chainlink has managed to surpass the likes of altcoins like Bitcoin Cash (BCH), making the former the eighth largest cryptocurrency valued at over $9bn.

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Author: James Fox

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