Grayscale Investments, a leading digital currency asset manager, has announced the launch of the Grayscale Chainlink Trust, offering qualified investors exposure to Chainlink (LINK) in the form of a security. This move simplifies investment in LINK, eliminating the complexities of directly purchasing, storing, and securing the cryptocurrency.
As of December 12th, the Grayscale LINK Trust boasted a net asset value (NAV) of $111.91 per share and held $30,468,812 in assets under management. The Trust is designed to track the market price of LINK, less fees and expenses.
According to Grayscale’s official website, the Trust is “one of the first securities solely and passively invested in Chainlink (LINK)” and allows investors to gain exposure to the cryptocurrency without the challenges typically associated with direct ownership.
Chainlink, built on the Ethereum Network using the ERC-677 standard, serves as the native digital currency for the Chainlink Network. This network functions as a decentralized “oracle” platform, facilitating the secure transfer of data between off-chain sources and on-chain decentralized applications (dApps). Oracles play a crucial role in the blockchain ecosystem by providing a reliable bridge between real-world data and smart contracts.
This new offering from Grayscale provides institutional and accredited investors a regulated and convenient avenue for participating in the growing Chainlink ecosystem.
