Are the six newly added grayscale trust entities with the same name really registered by Grayscale?

On January 22, some media said that Grayscale will soon launch 6 new trust products including LINK and BAT.

After checking the official website of the Delaware State Government, there are trust entities suspected to be related to Grayscale, namely "GRAYSCALE BASIC ATTENTION TOKEN TRUST (BAT)", "LINK", "MANA", "FIL", "LPT", and "XTZ" six trust entities (Entity).

At the same time, the website also shows Grayscale's existing trust entities with the same name, including "GRAYSCALE BITCOIN TRUST (BTC)", "BCH" , "ETH", etc.

Source: Delaware State Official Website

This news sparked widespread discussion in the community, gray Dudu officials have not yet responded to whether the news is true, but the key point is to confirm whether the corporate entities with the same name as Grayscale Trust displayed in the Delaware state government are registered by Grayscale?

The agent of record for the Grayscale investment filing is the Delaware Trust Company

According to the official inquiry of the US Securities and Exchange Commission (SEC), these new trust entities have not yet submitted documents to the SEC. The place of business registration of issued trusts such as Grayscale Bitcoin Trust is shown as New York.

Source: US SEC

However, according to Grayscale’s official information, the registration of Grayscale’s investment filing The nominee is Delaware Trust Company, a regulated provider of corporate trust and nomination services. Delaware law requires every legal entity to use a registered agent who can receive legal documents during business hours.

Image source: Grayscale

At the same time, Rhythm BlockBeats query, the newly added six major trust entities all passed special The Delaware trust company is registered as an agent, and the registration time is December 18, 2020 (the Filecoin trust registration time is October 15).

Add 6 types of trust registration agency companies, all of which are Delaware trust companies

At the same time Query the registration time of Grayscale's existing trust entities with the same name, all of which are in line with the launch time of Grayscale.

The registration time of the existing trust with the same name as Grayscale

The new CEO of Grayscale Investment Michael Sonnenshein once stated in January 2021 , Grayscale expects to launch 6 new products in 2021. And the number of newly added trust entities is just in line with Grayscale’s 2021 plan.

In addition, most of the tokens of these 6 new trust entities have been listed on Coinbase or Coinbase Custody, Grayscale It is a wholly-owned subsidiary of Digital Currency Group, and Coinbase is one of DCG's investment territories, and Grayscale's custody business is also in charge of Coinbase.

Through the snapshot and search of Google, it can be found that the document number officially disclosed by the state of Delaware can correspond to the Grayscale Trust .

According to the screenshots provided by Weibo KOL "not easy to describe" on Weibo, Grayscale founder Barry Silbert also mentioned MANA in his previous Twitter profile , LPT and other token positions.

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In summary, although it cannot be confirmed 100% because the Grayscale official has not yet responded, but the official page of Delaware shows that there are 6 new trust entities with the same name as Grayscale, the probability is Officially registered by Grayscale.

Grayscale’s official new trust product does not mean that institutions must be optimistic

Grayscale’s trust products provide investors, especially institutional investors, with a new channel. The new token trust product launched by Grayscale is not linked to the secondary market price.

According to the official information of Grayscale, the mandatory requirement for individuals to participate in private placements of Grayscale Trust is that the annual income exceeds $200,000 or an annual household income of $300,000 and a net worth of over $1 million. For entity enterprises, it is necessary to have liquid assets exceeding USD 5 million. This means that most investors do not meet the requirements of Grayscale Trust Private Placement.

While the threshold for private placement is high, compared with Bitcoin Trust and Ethereum Trust, the newly launched trust products may have a short period of time It is not yet possible to enter the OTC Market. Therefore, in the short term, users with less funds will not be able to participate in the hype of trust products.

Currently, the daily trading volume of GBTC in the OTC Market is 905 million US dollars, while the daily trading volume of ETHE is only 0.91 One hundred million U.S. dollars. Investors need to be cautious about new trust products that lack the high premium in the OTC Market secondary market, because this does not mean that institutions are optimistic.

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