Grayscale Investments, the world's largest cryptocurrency asset manager, plans to launch a trust based on the DeFi token yEarn.Finance.
This new investment product has been registered by Delaware Trust Company (DTC), the company's statutory trustee. According to Delaware's website, the registration of the Grayscale Yearn Finance Trust (YFI) took place on February 10.
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The price of the YFI token has soared about 30% over the past 24 hours.
DTC has previously registered six trusts for Grayscale based on Aave, Polkadot, Cosmos, Monero, EOS and Cardano.
In December the company applied to register trusts for Chainlink, Tezos, Basic Attention Token, Decentraland and Livepeer.