Grayscale Chainlink Trust Premium Rate Hits Record High of +223.86%

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Grayscale Chainlink Trust Rate Hits Record
  • Grayscale’s GLINK premium rate has hit a record high of +223.86%. 
  • GLINK is trading for $44.1, while LINK’s price was $13.62 on November 8. 
  • Other Grayscale products, including GSOL, FILG, and GXLM premium rates, have also hit record highs.

The digital asset investment product Grayscale Chainlink Trust has hit record highs, with the GLINK premium rate increasing by 223.86%. Grayscale’s other trusts have also returned record highs, with GSOL, the investment product for Solana, seeing its premium rate increase by 630.82%. Meanwhile, Grayscale’s Filecoin Trust is trading at a 1016.63% climb on its premium rate. 

Grayscale’s GLINK is trading at record highs, with shares trading with a premium rate increase of 223.86% on November 9. GLINK’s price, called the secondary price, on November 8 is $44.1, while LINK’s price, called the primary price, for the same period is $13.62. Meanwhile, the company’s GSOL, GXLM, and FILG have all marked record surges in premium rates by about 630.82%, 110.88%, and 1016.63%, respectively.  

The Grayscale Chainlink Trust has shared that it’s solely invested in LINK. As per Grayscale, the trust allows individual and institutional investors to gain exposure to LINK as a security while allowing them to avoid buying, storing, and trading LINK directly. The trust holds 300.07K LINK, and its share prices reflect the volume of LINK it owns.

The trust’s investment objective is reportedly to reflect the market price of LINK as closely as possible. However, GLINK has always traded at a large premium or discount to LINK’s price. In addition to GLINK, Grayscale has trusts for 14 tokens, including Bitcoin, Ethereum, Solana, Stellar, and Filecoin.

Grayscale had earlier filed to convert its Bitcoin trust into a spot ETF before the U.S. Securities and Exchange Commission. Following the rejection of its application, the company sued the SEC, contending that its rules for futures ETFs should also apply to spot ETFs. The company is awaiting a final verdict on the case.

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