Summary:
- Grayscale Investments has announced the launch of 5 new crypto trusts
- They include Chainlink (LINK), Basic Attention Token (BAT), Decentraland (MANA), Filecoin (FIL) and Livepeer (LPT)
- Each of these digital assets has gained significantly in the last 24 hours and/or 7 days
- The CEO of Grayscale had hinted at a pending announcement earlier today
The Wallstreet company of Grayscale Investments has announced the launch of 5 new digital asset trusts. Furthermore, the new trusts are now open for daily subscription by eligible individual and institutional accredited investors.
The new trusts include:
- Grayscale Basic Attention Token Trust
- Grayscale Chainlink Trust
- Grayscale Decentraland Trust
- Grayscale Filecoin Trust
- Grayscale Livepeer Trust
Demand for Digital Asset Exposure Has Increased
The CEO of Grayscale, Michael Sonnenshein, went on to explain that increased investor demand was the reason behind the addition of the new digital asset trusts. He explained.
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.
Grayscale CEO Had Made an Announcement About a Pending Announcement
Before the announcement was made public, Mr. Sonnenshein had pulled a Justin Sun by making an announcement of an announcement as seen in the following tweet.
for good measure, announcing we have an announcement. stay tuned.
— Michael Sonnenshein (@Sonnenshein) March 17, 2021
All Five Digital Assets Thrive in the Crypto Markets
A quick glance at Coinmarketcap reveals that all 5 digital assets of Chainlink, Basic Attention Token, Filecoin, Decentraland and Livepeer, have experienced significant gains in the last 24 hours and/or the last week. The screenshot below courtesy of the tracking website further demonstrates this fact.
Grayscale Will Reduce the Circulating Supply of Each
The gains exhibited by the five digital assets might be the beginning of what might become a constant climb in the crypto markets for LINK, BAT, MANA, FIL and LPT.
This is based on the simple notion that Grayscale will start accumulating each of these digital assets as they have with Bitcoin and Ethereum. As is usually the case, the accumulation by Grayscale will be constant and probably worth millions with each buy.
Therefore, their purchases henceforth will definitely reduce the supply of each of the digital assets in the crypto market thus increasing the value based on simple supply/demand dynamics.