Grayscale Investments announces today the addition of Chainlink’s LINK tokens to its highly-acclaimed Digital Large Cap Fund. Chainlink’s inclusion in the fund fills up the void left by Ripple Labs’ XRP tokens which were removed primarily due to the exchange’s ongoing legal turmoil with the US Securities and Exchange Commission (SEC).
As per the announcement, the adjustment in Grayscale’s Digital Large Cap Fund was made by retailing a share of its present components, which was then used to purchase LINK. Last Friday, the fund reportedly had a total of $538.2 million in assets under management, or AUM, with LINK responsible for 0.87% of the pile. Notably, 80.5% belongs to Bitcoin (BTC), while 16.86% is Ethereum (ETH).
LINK’s inclusion to the popular fund predictably resulted in substantial gains for the exchange. LINK’s global market price surged by more than 4.29% within the past day, thus, putting its current trading prices at $32.25 each. This continues the cryptos continual rise for the past year and so, which is reportedly now as high as 190% from its last year’s numbers.
This cements Chainlink’s position as the tenth-largest crypto in the world today, with a market capitalization of more than $13 billion. Perhaps its inclusion in Grayscale’s fund could elevate it even higher.