Digital asset manager Grayscale is further expanding into its product offering as the crypto market continues to gain maturity with time. The company has reportedly incorporated six more trusts for some of the lesser-known yet interesting altcoin projects like Chainlink (LINK), Tezos (XTZ), Basic Attention Token (BAT), and Filecoin (Filecoin).
Grayscale has incorporated six more trusts, including those tied to Chainlink $LINK, Tezos $XTZ, Basic Attention Token $BAT, Decentraland $MANA, and Filecoin $FIL https://t.co/G76fbpnwCA pic.twitter.com/qzO7Z6SRr3
— Bloqport (@Bloqport) January 22, 2021
During his recent conversation on Twitter, Grayscale’s newly appointed CEO Michael Sonnenshein said that their institutional clients have started showing interest in altcoins. Ethereum (ETH) and Bitcoin Cash (BCH) have been the most preferred choices though.
They like the arb opportunity 😉
— Dan Held (@danheld) January 17, 2021
Well, we don’t expect institutions to participate in the newly announced trusts off-the-bat. However, looking at the potential that these projects have, maybe in the long-term they can attract big players. Oracle service provider Chainlink (LINK) has been in massive demand for transferring data and money across different blockchains. The LINK cryptocurrency has climbed up the ranks to become the ninth most-valued digital asset with $8.8 billion in marketcap.