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Institutional investors and the concept of oracles, is the Chainlink Grayscale Trust Fund about to be launched?

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Institutional investors and the concept of oracles, is the Chainlink Grayscale Trust Fund about to be launched?

Registration documents bearing the name of Grayscale indicate that the multi-billion-dollar asset management company may be considering launching a new trust fund that includes Chainlink. An update on 1/23 confirms this news as Grayscale's new CEO.

Chainlink Trust Fund?

According to documents on the Delaware state government website, a company named Delaware Trust Company registered a statutory trust called "Grayscale Chainlink Trust" on December 18, 2020.

On December 18, 2020, in addition to Grayscale Chainlink Trust, Basic Attention Token Trust, Decentraland Trust, Livepeer Trust, and Tezos Trust were also registered on the same day. The applications for registration were not made by Grayscale, but by an entity named Delaware Trust Company, which is a trust service provider for Grayscale, as the name of this company can be found in official documents of Grayscale.

Source: Grayscale

However, even if this trust is indeed a product under Grayscale, it may still take several months to launch (or may not launch at all). The documents show that the company applied for a Filecoin trust product last October, but it has not been made public for over two months. Another uncertainty is that Barry Silbert, CEO and founder of Grayscale, recently announced his resignation and was succeeded by Michael Sonnenshein. It is currently unclear whether Michael Sonnenshein will continue Barry Silbert's strategic and developmental direction.

1/23 Update: Grayscale's New CEO Confirmed

According to a report by The Block, CEO Michael Sonnenshein stated that the formation of this trust does not mean Grayscale will launch these products. He said:

"Grayscale continues to look for products that meet investor demand. We do some preliminary data submissions, but that does not mean we will bring the product to market. We will continue to introduce new products to investors."

Grayscale is a provider of cryptocurrency asset services. In recent months, due to the influx of institutional investors into Bitcoin, the company's Bitcoin trust fund (Grayscale Bitcoin Trust, BTC) has become the largest Bitcoin security product in the traditional financial market. Assets managed by Grayscale have grown rapidly. At the beginning of 2020, the company managed $2 billion, which has now grown to $27 billion.