Grayscale’s Chainlink Trust shares is trading 200% higher than LINK’s spot price

Grayscale’s Chainlink Trust (GLNK) shares are trading astatine a important premium of implicit 200% compared to the spot terms of Chainlink’s LINK token.

Grayscale’s data shows that GLNK shares are trading astatine $39, portion the LINK token’s marketplace worth is $12.51 arsenic of property time. This means that the worth of GLNK is 3 times higher than the underlying assets it holds.

Chainlink assemblage ambassador ChainLinkGod archetypal reported the surge successful this premium connected the societal media level X.

The illustration beneath shows that the LINK and GLNK had traded astir astatine par earlier successful the twelvemonth earlier a premium quality emerged betwixt the 2 assets successful March.

Chart comparing Grayscale’s GLNK shares and LINK terms show from 2021 to 2023 (Source: Grayscale)

Since then, the premium has continued to grow, driven by Chainlink’s accrued adoption and the usage of its Cross-Chain Interoperability Protocol (CCIP) by large accepted firms specified arsenic South Korean gaming elephantine Wemade and the global fiscal messaging web Swift.

Data from Tradingview besides shows that GLNK has maintained beardown terms show passim the year, rising by implicit 250% successful the past six months and astir 540% year-to-date.

Graph showing the terms show for GLNK shares successful 2023 (Source: Tradingview)

CryptoSlate, citing CoinShares’ play update, precocious reported that Chainlink-related crypto concern products enjoyed notable inflows during the past week, with $2 cardinal invested.

Grayscale introduced its Chainlink Trust successful May 2022 arsenic a regulated product, providing U.S. investors with vulnerability to LINK. Since then, the merchandise has attracted sizeable interest, with full assets nether absorption presently valued astatine $3.9 million.

However, similar different Grayscale Trusts, GLNK shares are not redeemable for the underlying plus they track. This means investors tin lone exit their positions by selling the shares to different party.

Meanwhile, LINK is besides experiencing a positive rally, reaching a yearly precocious of $12.65 connected Nov. 6 earlier retracing to its existent levels.

The station Grayscale’s Chainlink Trust shares is trading 200% higher than LINK’s spot price appeared archetypal connected CryptoSlate.