Grayscale Launches Investment Trusts for LINK, Filecoin, Decentraland, BAT, & Livepeer

Grayscale, the world’s largest digital asset manager with north of $43 billion in AUM, has announced the launch of five new digital asset investment trusts. The addition of Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT) will bring its total number of investment products to 14. For over a week now, Grayscale that has no redemption option, has closed the private placement of its GBTC shares. “Digital currencies have reached an inflection point. Investor demand has never been higher, and every day we’re seeing new entrants to what has surely become a bona fide asset class,” said Grayscale CEO Michael Sonnenshein. As we have been reporting, ever since early 2021, the asset manager has been filing to launch the trusts of several crypto assets, including DeFi tokens, but none were launched up until now. These new five trusts are just the beginning if the previous filings are any indication, which will open for daily subscription by the eligible individual and institutional accredited investors through respective periodic and ongoing private placements. Much like other single currency vehicles, each of these latest products is structured as a Delaware Grantor trust and will solely and passively hold the underlying asset while carrying a 2.5% annual fee. The asset manager also intends to quote the shares of new products on a secondary market just like its other products.