{"id":566364,"date":"2021-04-06T18:16:30","date_gmt":"2021-04-06T15:16:30","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=566364"},"modified":"2021-04-06T18:16:30","modified_gmt":"2021-04-06T15:16:30","slug":"chainlink-link-added-to-grayscales-digital-large-cap-fund","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/chainlink-link-added-to-grayscales-digital-large-cap-fund\/","title":{"rendered":"Chainlink (LINK) Added to Grayscale&#8217;s Digital Large Cap Fund"},"content":{"rendered":"<p><strong>In brief:<\/strong><\/p>\n<ul>\n<li><strong>Grayscale has adjusted its Digital Large Cap Fund and added Chainlink (LINK)<\/strong><\/li>\n<li><strong>Chainlink now has 0.90% allocation to the Grayscale Large Cap Fund<\/strong><\/li>\n<li><strong>LINK&#8217;s price experienced a knee-jerk reaction to the news posting a local high of $34.66<\/strong><\/li>\n<\/ul>\n<p>The Wall Street investment firm of <a href=\"https:\/\/en.ethereumworldnews.com\/filecoin-sets-new-ath-of-222-as-grayscale-buys-6-3m-fil-in-24-hrs\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Grayscale<\/a> has announced the rebalancing of its Digital Large Cap Fund. According to <a href=\"http:\/\/www.globenewswire.com\/news-release\/2021\/04\/06\/2204940\/0\/en\/Grayscale-Digital-Large-Cap-Fund-Announces-Rebalancing-of-Fund.html\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">the official announcement<\/a>, Grayscale sold existing components &#8216;in proportion to their respective weightings and using the cash proceeds to purchase Chainlink (LINK) in accordance with the Fund&#8217;s construction criteria.&#8217;<\/p>\n<p>The announcement went on to explain that the addition of Chainlink follows <a href=\"https:\/\/en.ethereumworldnews.com\/grayscale-launches-5-new-trusts-chainlink-bat-mana-fil-and-lpt\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">the launch of the Grayscale LINK trust<\/a> last month.<\/p>\n<p>To note is that the Grayscale Digital Large Cap Fund does not generate income and usually distributes Fund components to pay for its ongoing expenses. As a result, the amount of fund components in each share gradually decreases with time.<\/p>\n<h2>Chainlink Allocated 0.90% of the Digital Large Cap Fund<\/h2>\n<p>The digital large cap fund now has the following digital assets in the following weighted ratios.<\/p>\n<ul>\n<li>Bitcoin (BTC) &#8211; 79.8%<\/li>\n<li>Ethereum (ETH) &#8211; 17.5%<\/li>\n<li>Bitcoin Cash (BCH) &#8211; 0.80%<\/li>\n<li>Litecoin (LTC) &#8211; 1%<\/li>\n<li>Chainlink (LINK) &#8211; 0.90%<\/li>\n<\/ul>\n<h2>Chainlink Experiences a Knee-Jerk Reaction to $34.66<\/h2>\n<p>Prior to the news of Grayscale&#8217;s rebalancing of its Digital Large Cap Fund to include Chainlink, the digital asset of LINK was defending <a href=\"https:\/\/en.ethereumworldnews.com\/chainlink-link-hitting-32-is-possible-but-risky-crypto-analyst\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">the $32 support zone<\/a>. LINK would go on to increase in value by roughly 8.3% within minutes to a local high of $34.66 before experiencing a dip back to the $32 support zone due to a crypto-wide dump.<\/p>\n<p>At the time of writing, <a href=\"https:\/\/en.ethereumworldnews.com\/category\/news\/chainlink-link-news\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Chainlink (LINK)<\/a> is trading at $32.70 in what looks like additional consolidation in an attempt to perhaps reclaim $33 in the hours to follow.<\/p>\n<p>However, the crypto-market mood has turned bearish as a result of Bitcoin losing <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-is-now-more-valuable-than-a-kilogram-of-gold\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">the $58k support level<\/a> due to the aforementioned crypto-wide dump which saw BTC drop from the $59k price area to a local low of $57,500. If the King of Crypto can retake $58k, chances are that Chainlink would also return to bullish territory and possibly retest $34.66 in the near future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In brief: Grayscale has adjusted its Digital Large Cap Fund and added Chainlink (LINK) Chainlink now has 0.90% allocation to the Grayscale Large Cap Fund LINK&#8217;s price experienced a knee-jerk reaction to the news posting a local high of $34.66 The Wall Street investment firm of Grayscale has announced the rebalancing of its Digital Large Cap Fund. According to the official announcement, Grayscale sold existing components &#8216;in proportion to their respective weightings and using the cash proceeds to purchase Chainlink [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":566116,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[108032],"tags":[5749,108258,108163,4124],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566364"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=566364"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566364\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/566116"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=566364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=566364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=566364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}