Share this article
Grayscale Adds Chainlink to Its Digital Large Cap Fund
The native token of decentralized oracle network Chainlink fills the void left in the fund after the removal of XRP.
Updated Sep 14, 2021, 12:36 p.m. Published Apr 6, 2021, 11:55 a.m.
Make us preferred on Google
Grayscale Investments, the world's largest digital asset manager, has added Chainlink's LINK cryptocurrency to its Digital Large Cap Fund, providing a possible tailwind to the coin.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The native token of decentralized oracle network Chainlink fills the void left in the fund after the removal of XRP, the native token of Ripple Labs, in the wake of that company being sued by the U.S. Securities and Exchange Commission.
- Chainlink's oracles act as a bridge between cryptocurrency smart contracts and off-chain data feeds.
- Becoming a component of a popular fund often creates demand for an asset and thus its price. In the last 24 hours, the price of LINK is up 4.29%, trading at $32.25 at press time. It has risen more than 190% this year, according to the CoinDesk 20.
- The Digital Large Cap Fund has assets under management (AUM) of $538.2 million, according to Grayscale.
- Private placement in the fund is only offered at certain times of the year and is currently closed. Grayscale is owned by Digital Currency Group, the parent of CoinDesk.
Read more: Chainlink Hits Record High, Altcoins Rally Amid Bitcoin Consolidation
More For You
BlackRock takes first DeFi step, lists BUIDL on Uniswap as UNI jumps 25%
BlackRock will make shares of its $2.2 billion tokenized U.S. Treasury fund tradable on the decentralized exchange Uniswap.
What to know:
- BlackRock will make shares of its $2.2 billion tokenized U.S. Treasury fund, BUIDL, tradable on the decentralized exchange Uniswap, marking its first move into DeFi.
- UNI, the exchange's governance token, jumped 25% on the news.
- Trading BUIDL on UniswapX will allow pre-qualified, whitelisted investors to swap the tokenized Treasury fund around the clock with approved market makers using stablecoins, with Securitize handling compliance.
Top Stories
