Grayscale Adds Five Crypto Trusts Including Chainlink, Filecoin

Digital asset investment giant Grayscale has added five new cryptocurrency trusts to its roster, including Basic Attention Token (BAT), Chainlink (LINK), Decentraland (MANA), Filecoin (FIL), and Livepeer (LPT), according to a press release published today.

“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 in the release.

The new trusts are open now to “eligible individual and institutional accredited investors.”

With the new additions, Grayscale now has 14 different cryptocurrency trusts in total including its flagship GBTC.

"We are now probably maintaining anywhere from 30 to 40 product ideas at a time," Sonnenshein told Decrypt in a phone interview. "When we think about some of the new products we've launched, they're facilitating those assets that have real-world use cases, and utility that we feel is resonating with investors. So whether it's something like Filecoin, rethinking file storage and the distribution of where data is stored, or it's something like Decentraland, where we're really seeing the confluence of digital native tokens and gaming, each of these tokens is providing access and exposure to a new area of the market."

Grayscale also plans to have shares of its new products quoted on secondary markets as well, but “there is no guarantee that we will be successful.” According to the release, various factors including “questions regulators such as the SEC, FINRA or other regulatory bodies may have regarding such products,” may prevent them from going to secondary markets.

Editor's note: This post was updated on March 19 with new comments from an interview with Grayscale CEO Michael Sonnenshein.