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Grayscale Adds Cardano to Its Cryptocurrency Investment Fund
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Grayscale adds Chainlink to its large-cap crypto fund, providing tailwind to LINK price
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On the LINK/BTC pair, trader “Jon” said:
Officially broke out from the massive downtrend line dating back to August. Lines from the previous uptrend corridor may provide key levels on this leg up. 5 part Elliot impulse wave to ATH would be fun scenario.
Chainlink’s potential to extend its rally
It seems that the beginning of LINK’s bullish momentum stems from its inclusion in Grayscale’s product suite. A few hours ago, the firm announced LINK’s inclusion in the Digital Large Cap Fund.
Of the recently added cryptocurrencies (MANA, LIV, BAT, FIL), Grayscale said LINK is the only one qualified to be part of this product. Its role is to give investors a strategy to earn passive rewards by gaining exposure to 70% of its cryptocurrencies basket.
Investment Firm Hashed Raises $120M for Blockchain Venture Fund
Hashed, a South Korean blockchain investment group, has announced a successful raise for its first VC fund. $120 million was raised in just three months, attesting to the demand for exposure to blockchain – and the caliber of Hashed itself, led by CEO Simon Kim. The company, which was established in Seoul in 2017, has a strong presence in the crypto industry, having incubated startups while spreading the word about blockchain technology and the positive change it can effect.
The launch of the firm’s first blockchain-focused fund arrives at a time when interest in digital assets is at an all-time high. In 2020, PayPal (NASDAQ:PYPL) announced cryptocurrency support, and Square (NYSE:SQ) saw record bitcoin volume via its Cash App, while allocating 1% of its reserves to BTC.
Crypto Long & Short: Bitcoin s Relationship With Gold Is More Complicated Than It Looks
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