Crypto Asset Manager Grayscale Is Keeping an Eye on Chainlink, Tezos and More With Recent Filings

Key highlights:

• Crypto asset manager Grayscale has incorporated trusts for six cryptocurrencies
• The company says this doesn't necessarily indicate upcoming product launches
• Grayscale saw $3.3 billion in inflows during Q4 2020

Grayscale incorporates 6 new crypto trusts, but doesn't say whether it will launch products or not

Crypto asset manager Grayscale seems to be laying the foundations for new cryptocurrency investment products, incorporating trusts for six cryptocurrencies: Chainlink, Tezos, Filecoin, Basic Attention Token, Decentraland and Livepeer. The filings were made by Delaware Trust Company, a company that’s Grayscale’s statutory trustee for the state of Delaware.

However, the fact that these trusts were incorporated doesn’t necessarily mean that Grayscale will launch products for investing in the related cryptocurrencies. In a statement, the company said that it will occasionally make "reservation filings", suggesting that it’s simply looking to keep its options open in case it does decide to go forward with a new product. Grayscale CEO Michael Sonnenshein stated:

"Grayscale is always looking for opportunities to offer products that meet investor demands. Occasionally, we will make reservation filings, though a filing does not mean we will bring a product to market. Grayscale has and will continue to announce when new products are made available to investors."

Grayscale has been enjoying plenty of coverage durrent the current cryptocurrency bull run, as its products represent a way to gauge the presence of institutional investors in the Bitcoin and cryptocurrency markets. In its Q4 2020 report, the company revealed that investors poured in $3.3 billion into its cryptocurrency investment products during the quarter, with 93% of that money coming from institutional investors. The company’s Grayscale Bitcoin Trust, which allows investors to gain exposure to BTC, accounted for 87% of the inflows.

With Grayscale’s name carrying a lot of weight, the company’s moves are being closely watched by cryptocurrency market participants. The news about the recently registered trusts could have played a hand in the fact that 5 of the 6 cryptocurrencies from the list have posted a positive performance in the last 7 days, despite the total cryptocurrency market cap declining by about 5% during the same time period. The smallest crypto assets on the list, Decentraland and Livepeer, saw particularly big gains.