Grayscale Chainlink Trust Trades at 200% Premium Amid Institutional Demand

According to CoinDesk, Grayscale Chainlink Trust (GLNK), a regulated product that allows U.S. investors to gain exposure to Chainlink's LINK, is trading at a 200% premium to spot prices, indicating strong institutional demand. In the past week, GLNK prices have soared nearly 100%, closing at $39 on Monday from the $21 level on October 31. Each share holds just $12 worth of LINK, making it almost three times more expensive than the actual value of the held assets. Chainlink community ambassador @ChainLinkGod first reported the premium surge in a post on Tuesday. The Chainlink product was launched in May 2022 and has historically traded at a premium of over 20%. These premiums have spiked to as much as 150% on two separate occasions, but Monday's level is the highest ever recorded. The Chainlink Trust currently holds just under $4 million worth of LINK and charges an annual fee of 2.50%. Grayscale's trust products are the first investment vehicles of their kind to report financials regularly to the U.S. Securities and Exchange Commission (SEC). Grayscale and CoinDesk are part of the same parent company, Digital Currency Group (DCG). LINK tokens have been one of the top-performing major cryptocurrencies in the past 30 days, surging over 76% due to technical upgrades and institutional adoption of Chainlink's services. Some research firms have identified LINK as the 'safest bet' to profit from the growing real-world asset (RWA) tokenization hype, which may have contributed to the recent increase in the value of the tokens.