Grayscale Chainlink Trust premium exceeds 200%

The price of Grayscale Chainlink Trust (GLNK) surpassed NAV by a record 223.86%. The divergence may reflect a sharp rise in demand for the product from institutional investors.

Grayscale Chainlink Trust $GLNK trading at a 200%+ premium over spot ?

$39 per share, with 0.93482160 $LINK per share pic.twitter.com/0dxljSDzQ8

— ChainLinkGod.eth (@ChainLinkGod) November 8, 2023

Historically, the trust’s premium has hovered around 20%.

For institutional investors, GLNK is a regulated product that may be added to an investment portfolio.

The pronounced deviation is also tied to modest AUM in the trust — just $4.4 million.

According to journalist Colin Wu, the product’s trading volume also reached a record 20,102 units (~$886,700).

Grayscale’s GLINK premium rate hit a record high of 216.82%; the GLINK trading volume on that day was 20,102 GLINK, which also hit a record high. Large positive premiums include GSOL at 462.13%, FILG at 574.24% and GXLM at 122.76%. However, these are all under $10 million in AUM.…

— Wu Blockchain (@WuBlockchain) November 9, 2023

According to CoinGecko, Chainlink (LINK) has nearly doubled over the past 30 days, including an 8.9% rise in the last 24 hours.

The asset was the top gainer in the top-30 ranking over seven days, up 30.4%.

Earlier in October, CoinGecko analysts drew attention to Chainlink’s outperformance in an October report.

Earlier, ForkLog examined the asset’s price rise.