Grayscale Chainlink Trust Zooms to 200% Premium, Indicating Institutional Demand for LINK
The trust is one of the only ways for institutional investors to gain exposure to LINK tokens through a regulated product.
A regulated product that allows U.S. investors to gain exposure to Chainlink’s LINK is trading at a 200% premium to spot prices, suggesting institutional demand.
Prices of Grayscale Chainlink Trust (GLNK) have rocketed nearly 100% in the past week, closing at $39 on Monday from the $21 level on October 31. Each share holds just $12 worth of LINK, making it nearly three times pricier than the actual value of held assets.
Chainlink community ambassador
The chainlink product was released in May 2022 and has historically traded at a premium of over 20%. These premiums have shot to as much as 150% over two separate occasions – but Monday’s level is the highest ever so far.
As such, the Chainlink Trust holds just under $4 million worth of LINK and charges 2.50% annually in fees.
Read More: https://www.coindesk.com/markets/2023/11/08/grayscale-chainlink-trust-zooms-to-200-premium-indicating-institutional-demand-for-link/
The trust is one of the only ways for institutional investors to gain exposure to LINK tokens through a regulated product.
A regulated product that allows U.S. investors to gain exposure to Chainlink’s LINK is trading at a 200% premium to spot prices, suggesting institutional demand.
Prices of Grayscale Chainlink Trust (GLNK) have rocketed nearly 100% in the past week, closing at $39 on Monday from the $21 level on October 31. Each share holds just $12 worth of LINK, making it nearly three times pricier than the actual value of held assets.
Chainlink community ambassador
The chainlink product was released in May 2022 and has historically traded at a premium of over 20%. These premiums have shot to as much as 150% over two separate occasions – but Monday’s level is the highest ever so far.
As such, the Chainlink Trust holds just under $4 million worth of LINK and charges 2.50% annually in fees.
Read More: https://www.coindesk.com/markets/2023/11/08/grayscale-chainlink-trust-zooms-to-200-premium-indicating-institutional-demand-for-link/
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