The world’s largest investment fund, Grayscale, announced that it has replaced XRP and added Chainlink (LINK) to its Digital Large Cap Fund (GDLC).
Recently, Grayscale announced that it wants to switch GBTC’s Bitcoin trust into an exchange-traded fund (ETF). As a result, it has decided to completely remove the XRP token after the token’s recent problems with the Securities and Exchange Commission (SEC).
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In addition to Chainlink, the GDLC fund also contains Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BTC), and Ethereum (ETH).
Grayscale revealed GDLC’s stake on April 2, stating that each cryptocurrency in the fund has a different amount.
Chainlink keeps going up
Chainlink is an Oracle token built on Ethereum. Its growth in the market has been very impressive over the last 12 months, as it has gained 1,223% against the US dollar in this period. The addition of the token to Grayscale’s GDLC is another milestone for the token.
The GDLC fund update follows the recent introduction of the organization’s single asset investment vehicle known as the Chainlink Trust.
The LINK-based trust offers investors the necessary exposure to the price movements of the LINK token. The addition of Chainlink to Grayscale is also an indication of the further growth of Oracle-based tokens.
Chainlink is up 96% in the last 90 days, 18% in the last month, and 21% this week. The token has attracted the interest of retail and institutional merchants. The increased interest in the token is the result of the main projects undertaken by its developers.
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Chainlink improves scalability
In February, Chainlink’s Off-Chain Reporting (OCR) was launched, marking a major milestone for decentralized Oracle networks when it comes to scalability.
The update replaced the previous FluxAggregator model, resulting in increased availability and accuracy.
Chainlink also recently partnered with SKALE to use Chainlink’s Oracle solutions. The collaboration ensures the rapid and safe launch of new products in the future.