- Grayscale Chainlink Trust trades at a 200% premium, indicating high institutional interest.
- LINK tokens surge 76% in 30 days due to technical upgrades and institutional adoption.
- Grayscale’s GLNK product allows U.S. investors to gain regulated exposure to LINK tokens.
Grayscale Chainlink Trust (GLNK), a regulated investment product offering exposure to Chainlink’s LINK token for U.S. investors, is trading at a remarkable 200% premium above spot prices, indicating growing institutional interest in the crypto.
Over the past week, GLNK prices have surged nearly 100%, with its value reaching $39 on Monday, up from $21 on October 31. Notably, each GLNK share represents $12 worth of LINK, making it almost three times as expensive as the actual value of the underlying assets.
Chainlink community ambassador @ChainLinkGod was among the first to report this premium surge, drawing attention to the extraordinary demand for Chainlink’s LINK tokens.
The product, launched in May 2022, has historically traded at premiums exceeding 20%. On two occasions, these premiums reached as high as 150%, but Monday’s level marked a new all-time high.
The Grayscale Chainlink Trust currently holds assets valued at just under $4 million in LINK tokens and charges an annual fee of 2.50%.
Unique among its peers, Grayscale’s trust products are the first of their kind to regularly report financials to the U.S. Securities and Exchange Commission (SEC). It is important to note that Grayscale and CoinDesk both belong to the same parent company, Digital Currency Group (DCG).
In recent months, LINK tokens have been among the top-performing cryptos, registering a 76% surge in the past 30 days. This impressive performance is attributed to technical upgrades and increasing institutional adoption of Chainlink’s services.
Some research firms have even labeled LINK as the “safest bet” for capitalizing on the rising trend of real-world asset (RWA) tokenization. This optimism has likely contributed to the growing value of LINK tokens in recent weeks.
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