Grayscale's Chainlink Trust shares, known as GLNK, have witnessed a remarkable development, with their value soaring to a 250% premium compared to the spot prices of the LINK cryptocurrency.

This substantial rise was brought to the forefront by ChainLinkGod, a prominent influencer and revered member of the Chainlink community, who noted this significant spread on November 7. 

The data charts the spread between GLNK and LINK, which has steadily risen from around 100% to an astounding 250%. The surge in value of GLNK shares follows the exceptional performance of LINK in the last three weeks, during which it more than doubled in price, aligning with the broader recovery trend in the crypto market. 

As per CoinGecko, LINK's value surged from $6.14 on September 18 to $14.55, further underlining its impressive performance.

The substantial spread we observe today is primarily attributed to the significant increase in the total value locked within GLNK, which has now reached approximately $4 million. CoinShares reported an influx of $2 million into this product over the past seven days, pointing to the growing demand for GLNK shares. 

It's important to note that Grayscale Trust shares are considered securities and are exclusively available to accredited investors.

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GLNK Skyrockets Amid Demand Surge

ChainLinkGod highlighted the intriguing trend, emphasizing, "While the AUM of $GLNK is only ~$4M, it's interesting nonetheless to see the demand spike on a product geared towards institutional investors." 

GLNK is a regulated product that enables U.S. investors to gain exposure to Chainlink's LINK token. 

The surge in demand for GLNK shares, while historically witnessing a premium of more than 20%, has now surged to nearly 150% on two separate occasions. Grayscale's trust products, including GLNK, are the first to regularly report financials to the U.S. Securities and Exchange Commission (SEC). 

Notably, LINK tokens have been among the best-performing major cryptocurrencies in the past 30 days, experiencing a remarkable 97% surge in value over the last 30 days. 

Data from Tradingview further substantiates the strong price performance of GLNK throughout the year, with a rise of over 301% in the last six months and nearly 621% year-to-date. 

It's worth noting that, similar to other Grayscale Trusts, GLNK shares cannot be redeemed for the underlying assets they track. Investors can only exit their positions by selling the shares to another party, cementing the intriguing dynamics surrounding this premium-trading investment option.