Grayscale Investments announced Tuesday a rebalancing of its large-cap crypto fund, a move that adds the Chainlink token to the entity’s list of held digital assets.

In statements, Grayscale said that it “adjusted the Fund’s portfolio by selling the existing Fund Components in proportion to their respective weightings and using the cash proceeds to purchase Chainlink (LINK) in accordance with the Fund’s construction criteria.”

The move comes months after Grayscale incorporated a series of trusts in January, including one focused on Chainlink. That same month, Grayscale removed XRP from the Digital Large Cap Fund.

The Grayscale Chainlink Trust was among those launched in March, as the firm previously announced. 

Read Also:   Japan Police Identify 30 People Linked to $530 Million Coincheck Hack

Chainlink is a network of oracles that provide data to smart contracts, providing an information basis for the decentralized finance (DeFi) ecosystem. LINK is the native token of the Chainlink network and acts as a financial incentive for node operators.

As explained on its website, Grayscale’s Digital Large Cap Fund is also comprised of bitcoin, ethereum, bitcoin cash and litecoin. The fund is market cap-weighted and as of April 5 had $538.2 million in assets under management. Per Tuesday’s press release, the fund is comprised of 79.8% BTC.

 

Related Reading


Download MAXBIT Android App, Your best source of all crypto news!
Google Play

Source link


Grayscale adds Chainlink to its large-cap digital asset fund

by Evan A. Warren
Choose A Format
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format