Grayscale Adds Chainlink (LINK) to its Digital Large Cap Fund
Grayscale Investments, the world’s largest digital asset manager, has rebalanced its Digital Large Cap Fund (GDLC) composition to make the crypto asset LINK part of it.
Built on Ethereum, Chainlink is an oracle service provider which was recently announced by Grayscale as a single-asset investment product.
The 10th largest cryptocurrency by market cap of $14.17 billion is the only one qualified for this inclusion in the Fund, out of the other four latest additions, LivePeer (LPT), Filecoin (FIL), Decentraland (MANA), and Basic Attention Token (BAT) by Grayscale. The Fund’s composition is evaluated every quarter.
The Fund's portfolio, a passive rules-based strategy that seeks to provide exposure to 70% of the digital asset market, has been adjusted by selling its existing components. The cash proceeds from that were then used to purchase LINK.
On April 1st, Grayscale added 65.67k LINK and now holds a total of 115.57k LINK, worth just over $4 million.