Grayscale Launches Yearn Finance Based Trust

In early February, institutional crypto fund giant Grayscale filed a number of new trust filings, includingYearn Finance and SushiSwap trusts.

Grayscale, the world's largest cryptoasset trustfor institutional investors, is diving deeper into the DeFi sector. Delaware's corporate registry has previously registered six company trusts: Aave, Polkadot, Cosmos, Monero, EOS, and Cardano.

A Grayscale representative said the new organization – it is merely a "reserve deposit" that may or may not be put into use in the future.

Grayscale investment funds attractedsignificant attention of large investors seeking to access cryptocurrencies using traditional means. Grayscale remains the de facto leader in this area with combined assets of $ 36 billion. The current Grayscale trust funds are dominated by Bitcoin (BTC), which accounts for about 82% of the total.

Amid the news, YFI's price soared 27%, reaching a new all-time high of $ 47,500. After weeks of weak price movement, YIFI has finally woken up and is heading up again.

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