Digital currency manager Grayscale Investments announced that the company has updated its Digital Large Cap Fund (GDLC) to add a link to the encrypted asset chain to the fund. Chainlink is a popular blockchain Oracle network. After Grayscale removes the digital currency from GDLC, the token will replace XRP.

Chainlink joins Grayscale’s Digital Large Cap Fund

After Grayscale recently announced to the public that it intends to convert the GBTC Bitcoin Trust into an Exchange Traded Fund (ETF), the organization revealed that Chainlink (LINK) will join the Digital Large Cap Fund (GDLC) (OTCQX: GDLC). Last year, GDLC included the digital currency XRP, but after a recent issue of the Securities and Exchange Commission to Ripple Labs, Grayscale removed the token from the roster.

In addition to links (LINK), GDLC funds also include Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC). Each encrypted asset in the GDLC fund has a different amount. Grayscale disclosed the holdings of GDLC on April 2, 2021.

“As of the end of the day on April 2, 2021, the fund components include a basket of 79.8% Bitcoin (BTC), 17.5% Ethereum (ETH), 0.80% Bitcoin Cash (BCH), 1.00% Litecoin and 0.90% chain link (LINK), “Gray annotation. “Each share represents 0.0004619 Bitcoin, 0.00287637 Ethereum, 0.00046869 Bitcoin Cash, 0.00166308 Litecoin and 0.00973831 chain link,” the digital asset manager’s disclosure added.

The Rise of Chainlink: The Ethereum-based Oracle token has increased by 1,223% against the U.S. dollar in 12 months

The changes to the Grayscale GDLC fund follow the recent launch of Chainlink Trust, the organization’s single-asset investment tool. The trust based on LINK allows investors to bear the risk of price changes of LINK, and LINK is a decentralized data routing protocol based on Ethereum (ETH). After the recent rise of Oracle-based tokens, chainlinks with grayscale have also appeared.

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Chainlink (LINK) rose 21% this week, 18.3% last month, 96% in the past 90 days, and the exchange rate against the US dollar surged 1,223% in the past 12 months. Since reaching an all-time high (ATH) two months ago, Chainlink’s share price has fallen by more than 8%, touching $36.59 per unit.

What do you think of Grayscale adding chain links to GDLC funds? Let us know your thoughts on this topic in the comments section below.

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BCH, BTC, Chainlink, Chainlink (LINK), digital large-cap fund, ETF, ETH, Ethereum construction, GBTC, GDLC, gray scale, gray scale investment, large-cap fund, LiNK, LTC, oracle, Oracle Token, single asset Investment tools

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