Grayscale Investments has registered an LLC for prospective new trust filings for Yearn Finance (YFI) and SushiSwap similar to Bitcoin and Ethereum products. The move indicates that the world’s largest digital asset manager is taking interest in DeFi tokens. Grayscale now has 33 registered trusts in the state though only nine are active based on the fund manager's AUM reports.
<h2><strong>Grayscale Taking an Interest Towards DeFi Tokens</strong></h2>
The world’s largest crypto asset trust for institutional investors seems to be taking an interest in the DeFi sector with more trust flings in addition to Aave and Polkadot, which it filed last month.

The <a href="https://icis.corp.delaware.gov/ecorp/entitysearch/NameSearch.aspx" target="_blank" rel="noopener">Delaware corporate registry</a>, Grayscale’s statutory trustee for the state had received the filings on Feb. 10, following six filings on Jan. 27. The new filings include DeFi aggregator Yearn Finance and SushiSwap.

The asset manager has also formed LLCs for Uniswap, Theta, and Cardano, among many others. In addition Cosmos (ATOM), Monero (XMR), and Cardano (ADA) <a href="https://www.cryptoknowmics.com/news/grayscale-incorporates-six-more-cryptocurrency-trusts/">trust filings were also added</a> on Feb. 1. Other filings include Compound Finance, DeFi lending platform MakerDAO, Synthetic Asset Platform Synthetix, decentralized storage platform Blockstack.

In Jan 2021, Grayscale also <a href="https://www.cryptoknowmics.com/news/grayscale-filing-hints-at-5-more-potential-cryptocurrency-trusts/">registered trusts</a> for Chainlink (LINK), Basic attention token (BAT), Decentraland token (MANA), Tezos (XTZ), Filecoin (FIL), and Livepeer (LPT). The crypto fund manager dissolved its XRP trust following Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission.
<h2><strong>Grayscale’s Latest AUM Represents $36 Billion</strong></h2>
Grayscale’s cryptocurrency trust is mainly dominated by Bitcoin (BTC), representing about 82% of the total $30.2 billion. Its Ethereum (ETH) trust comprises 15%, with $5.5 billion. The rest of the cryptocurrency trusts includes Litecoin (LTC), Bitcoin Cash (BCH), Stellar Lumens (XLM), Ethereum Classic (ETC), and ZCASH (ZEC).

Grayscale’s latest assets under management figure comprise $36 billion, an increase of 47% since Grayscale’s first DeFi trust filings on Jan. 29.

https://twitter.com/Grayscale/status/1359619171613630474

Meanwhile, registering for a corporation doesn’t signify that the new business entity is operational. It only indicates a future fund offering that may or may not come to fruition.

Grayscale’s New Trust Filings Includes Yearn Finance, SushiSwap

Grayscale Investments has registered an LLC for a prospective new trust filings for Yearn Finance (YFI) and SushiSwap simialr to BTC and ETH products.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Grayscale’s New Trust Filings Includes Yearn Finance, SushiSwap

Top Picks