Grayscale Incorporates Yearn.Finance Trust as YFI Soars to $45K

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Thu, 02/11/2021 - 19:10
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Alex Dovbnya
Grayscale has formed a new trust for DeFi darling Yearn.Finance (YFI)
Grayscale Incorporates Yearn.Finance Trust as YFI Soars to $45K
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Leading cryptocurrency asset manager Grayscale could potentially launch a new trust for Yearn.Finance (YFI).

Delaware Trust Company, the company’s statutory trustee, recently registered the above-mentioned product, according to its Feb. 10 filing.

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Image by icis.corp.delaware.gov

Last month, Grayscale also formed a slew of trusts for such cryptocurrencies as Chainlink (LINK), Tezos (XTZ), Cardano (ADA),

However, the asset manager noted that these products would not necessarily be brought to market:       

Occasionally, we will make reservation filings, though a filing does not mean we will bring a product to market. Grayscale has and will continue to announce when new products are made available to investors.

As per its most recent update, Grayscale currently has $36.2 billion worth of assets under management, with its Bitcoin trust accounting for $29.7 billion of the aforementioned sum.     

The firm’s XRP trust was terminated in January after Ripple Labs got sued by the U.S. Securities and Exchange Commission.     

Related
Yearn.Finance (YFI) Targeted by "Flash Loan" Attack, $11,000,000 Drained

Yearn.Finance’s governance tokens hits an all-time high     

Yearn.Finance's YFI token is currently among the best-performing cryptocurrencies over the past 24 hours.

Earlier today, the token surpassed the $45,000 level for the first time in history, reaching a new all-time high of $45,895 on FTX.

The token—which was originally deemed to be completely valueless— swiftly became a fixture in the decentralized finance industry together with Andre Cronje, the founder of the Yearn.Finance protocol.     

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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