Grayscale Investments recently indicated that they are looking to consider the DeFi coins of Yearn Finance Trust (YFI). It has registered an LLC for this perspective, an entity of YFI. The firm was named in Delaware, called Statutory Trust, on the 10th of February, 2021. In Delaware, the company now has more than 33 trusts registered. Even though only 9 of those are actively running, this is based on information from fund-managing resources. This also includes the widely known Bitcoin Trust. The trust has a capital asset worth 30 billion dollars.
Grayscale has several other trusts for other cryptocurrency coins like Theta, Polkadot, Cardano, and Uniswap, among others. But remember, registering a firm does not directly mean that the operations are in the run. Such cases occur when LLC acts as a placeholder for futuristic offerings of funds that have no guarantee of coming to fruition. It is said to be a reservation filing. However, the cheap registration as a reservation (Grayscale is an LLC registered in Delaware as well) isn’t free. It is charged with fees which are to be paid annually. It is in order to maintain their status of the activity.
Grayscale Spokesperson Speaks About The New LLC
A spokesperson from Grayscale said that the LLC is a mere reservation filing. They also noted that the operations under it could start in the near future. He said that the company has always looked for opportunities for offering products, meeting the demands of investors. He added that they also occasionally register reserve LLC, but that does not directly mean that there is a new product launching in the market. If a new product is on the way, the firm will first announce it to its investors.
YFI is the only token in the market to mirror BTC when it comes to prices. This is due to their limited supply, as well as an aggregator for investors of Decentralized Finance.
