Am I understanding correctly - Grayscale is supposed to preserve the ratio of 0.93 underlying Link token per share? So in other words, they will have to buy more Link token to keep up with the recent stock pump
Mechanics of Grayscale Link
Am I understanding correctly - Grayscale is supposed to preserve the ratio of 0.93 underlying Link token per share? So in other words, they will have to buy more Link token to keep up with the recent stock pump
Also worth mentioning is volume is skyrocketing. Using yahoo finance stats, before this week, average daily volume of shares traded was just under 1,800, which when the stock was low teens, was about $21k of volume per day.
Today, over 15,000 shares traded at average price of mid 40s, so over $600k in volume. Interesting...
I'm seeing vol of 18000 share via my insider Fidelity chart
>So in other words, they will have to buy more Link token to keep up with the recent stock pump
Yes.
I seriously regret not getting GLNK...I got plenty of LTCN due to the premium discount but the premium on LINK was quite negative
I just bought Link every time instead. I wish I had just maxed my IRAs with this thing now though.
Don't you have to be a qualified investor (kek) to buy this shit though?
I just checked Etrade and it's available to me, so I don't think so.
What is the price upon this Etrade?
Bid is $45 ask is $50 right now.
Sweet baby Jesus.
Fuck now I see it on Schwab. I'm a brainlet.
I signed up for both Schwab and E*trade but LNX and glnk are not showing
I just hold link in my Roth
Why nobody talked about tjis here before?
I myself created a Grayscale thread over a month ago and was flamed by everyone.
It's because LULZ is unironically full of retarded reddit NPCs. All the smart oldfags made it with ETH and now we're left with the perma NGMI retards and all the GME reddit cucks. A number of them might have survived the LINK fud spam, but still too dumb to recognize other good alpha.
sorry dude sounds like you're someone who will not wagmi
Cope
Not true. LINK OGs didn’t make it
I made it... Plenty of us made it. I've made around $1MM in the past couple weeks alone.
>he doesn't know
lmao this is performing better than link itself LOL
My brain is mush today, can you break this down in a basic math example?
>Am I understanding correctly - Grayscale is supposed to preserve the ratio of 0.93 underlying Link token per share? So in other words, they will have to buy more Link token to keep up with the recent stock pump
The ratio of GLNK to LINK is probably delineated in th prospectus, but can be changed for example if they do a stock split. Nothing is forcing them to buy LINK to equalize the prices because GLNK isn't an ETF (yet). The premium will fluctuate based on demand, which should stay high until a LINK ETF exists, then GLNK will crash to the LINK price as investoors dump it for the LINK ETF. Same thing happened with GBTC, it always traded at a premium in prebull and bull markets until the BTC ETFs came online in Canada and Yurop, after which GBTC has been at a heavy discount.
So what exactly is the point of this fund?
To get crypto exposure when/if:
>you're a boomer/retard who has a stock brokerage account but doesn't have or want a crypto wallet
>you're an institution who is not allowed to own crypto directly but you can own stocks
>you have a retirement account (401k or IRA or similar) with a brokerage which can't or won't buy spot crypto, but can buy stocks
It's not rocket science.
So this spike in glink is just due to sudden rise in demand? Obviously yes. I wonder if this is indicative of the valuation in institutions's eyes? I would assume the bigger players don't trade this short term based on the low supply side pump
>So this spike in glink is just due to sudden rise in demand? Obviously yes. I wonder if this is indicative of the valuation in institutions's eyes?
Could be, since they're clearly willing to buy at 3× the spot price of LINK, which is very bullish.
It's incredibly bullish. Grayscale BTC traded on a small premium and now the ETFs are more expensive than the Greyscale shares. I mean they have to anticipate the link ETF must eventually be worth more than GLINK.
Will be fun to see if link proportionally follows glink or the other way around. Would be cool to see institutions start driving the prive with glink
Thank youse. I’m a 2017 linkie but crypto has been my intro to all finance in general and I’m holding on for dear life.
Grayscale Link shares are regulated. This fund allows institutional buyers to buy Link with full regulatory backing. And they seem to be buying in droves.
What does this mean for the actual link price then? Will link's price eventually catch up to match the price of glink?
Thank you this is the explanation I was looking for
>look goy buy this other shit that may or may not hold LINK in its balance sheet but we can assure you it does
Yawn kill yourselves you fucking greedy scamming israelite
Midwit take, how old are you 19?
leave retard
they do have to maintain the 0.93 ratio per issued share. they only have to buy more link if they want to issue more shares. if they dont someone else will step in to make a larger fund institutions can buy from with better rates.
so right now they could:
>market buy 93k LINK for 1.3mil
>issue 100k shares of GLINK currently valued at 5mil
problem is only 6% of shares have traded today. Even issuing a fraction of that amount could crash it. if they invest 1.3mil themselves and LINK/GLINK were to crash back down they'd be on the hook for the loss until it recovers. it would also piss off their investors who just overpaid.
Their biggest problem is they started with way too small of a LINK holding. they either need to issue 5k shares a day until its at a more reasonable price or 1k an hour.
either way its a wakeup call to grayscale that they need more LINK
Didn’t they dump a ton of LINK back in the day?
Uncle blessed us with this knowledge. I’m sure most of us didn’t listen. Uncle is real deal
Someone please explain why someone would buy GLINK at this price when they can just buy link on Coinbase? It’s just its own speculative asset at this point (pre ETF)? Is it just boomers who don’t understand how to buy crypto?
Jesus Christ this question again
Institutional funds don’t have to worry about the Fuckary associated with crypto, even if you have a proper coinbase/kraken high level business account.
Thanks. What kind of fuckary? Hacks or custody concerns?
I can buy GLINK with my HSA. Tax free income going into the HSA, tax free gains I could use for medical as long as I keep it in the account.
Why not just buy link? Buying something that represents link at a premium than the actual asset makes no sense.
I'm now thoroughly convinced that LULZ is infested with NEET subhumans who have never had a serious job since it's obvious they don't understand most big brokerages who manage 401ks and IRAs can't or won't buy real LINK or any crypto for that matter. Get a real job you homosexuals.
>i can't read or use critical thinking skills
Tax benefits. Other than that it makes way more sense to buy Link don’t listen to the retarded boomers in this thread it is a terrible idea to buy this right now.
So . . . let's all start buying GLNK to force Grayscale to buy more LINK?
How do I buy glink sirs it seems like very good bet
So how high can this shit realistically go? I’m all in on LINK and considering throwing a couple grand on this but this sudden huge jump from $15 to $50 is putting me off. Been following this shit for a year now so kinda pissed I didn’t pull the trigger sooner
So Glink is like a link etf? ETFs have to buy shares don't they? Kind of like how VOO has to buy shares in the top 500 companies, does this mean Glink has to buy more link tokens to keep up with demand? Also, why the sudden institutional interest in link?
Oh idk the fucking banking system known as swift just casually has discussed that this particular fintech is the facilitator for the future of all of finance, banking, fuck, the Internet ?
SWIFT has been known for 6 years now, how is this any different?
Gm kiddo how you doing kiddos? Pool's closed!
so retarded boomers are pumping our bags?