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Grayscale Filecoin Trust (FIL)
Grayscale Filecoin Trust (FIL) is a publicly-quoted closed-end trust that tracks the price of Filecoin, traded OTC, per public record.
Grayscale Filecoin Trust (FIL)
Grayscale Filecoin Trust (FIL) was launched by Grayscale Investments, the world's largest digital currency asset manager, as part of its expanding lineup of single-asset trusts. The trust offers a traditional securities wrapper for Filecoin, the native token of the InterPlanetary File System (IPFS) storage network, targeting institutional and accredited investors seeking exposure to decentralized data storage infrastructure. Grayscale's model involves buying and holding Filecoin in custody with Coinbase Custody Trust Company. The trust's investment strategy is passive: it holds Filecoin and issues shares that trade over the counter under the ticker FIL. The trust does not generate yield or engage in staking of Filecoin tokens, unlike some other crypto trusts. It is designed for investors who want to incorporate decentralized storage into a portfolio without the operational burden of self-custody. The trust's scale and team size are not publicly disclosed. Grayscale Investments, as the sponsor, manages all trusts including this one, with Michael Sonnenshein serving as CEO of Grayscale. No additional offices or adjacent vehicles specific to this trust are publicly known. In recent years, the trust has seen price fluctuations tied to Filecoin's market performance and the broader crypto cycle, but no specific operational events have been disclosed for the trust itself in the last 24 months (per public market data, 2025). Grayscale Filecoin Trust is structurally distinct from open-end funds because it is a closed-end trust that trades at a premium or discount to net asset value (NAV). This structure means its shares can diverge from the underlying FIL token price, adding a layer of price risk for investors. The trust's shares are also subject to lock-up periods under Rule 144 of the Securities Act, restricting immediate resale.
General information
Firm type
other
Year founded
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AUM
Undisclosed
Location
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Frequently asked questions
What is Grayscale Filecoin Trust (FIL)?
Grayscale Filecoin Trust (FIL) is a single-asset investment vehicle that holds Filecoin, the native token of the IPFS decentralized storage network. Shares trade over the counter under the ticker FIL, offering institutional and accredited investors exposure to Filecoin without direct token ownership. The trust is sponsored by Grayscale Investments.
How does Grayscale Filecoin Trust generate returns?
The trust's returns track the market price of Filecoin (FIL). The trust passively holds Filecoin in custody; it does not stake or lend the tokens to generate yield. Therefore, investor returns depend solely on the appreciation or depreciation of FIL's market price and the trust's premium or discount to NAV.
How can investors buy shares of the trust?
Shares of Grayscale Filecoin Trust (FIL) trade over the counter under the ticker FIL. Only accredited investors can purchase shares directly through the trust's periodic offerings, which may involve lock-up periods. After lock-up, shares can be sold on the OTC market.
What are the fees for Grayscale Filecoin Trust?
The trust charges an annual management fee, typically similar to other Grayscale single-asset trusts. As of public filings, the fee is 2.5% per annum, which is deducted from the trust's assets. This fee is paid to Grayscale Investments for sponsoring and managing the trust.
Who is the custodian of the Filecoin held by the trust?
Coinbase Custody Trust Company serves as the custodian for the Filecoin holdings of Grayscale Filecoin Trust. This is consistent with Grayscale's practice of using Coinbase Custody for many of its crypto trusts.
Is Grayscale Filecoin Trust available to non-accredited investors?
Direct purchases of the trust's shares are typically limited to accredited investors during the offering period. After the lock-up period, shares can trade on the OTC market, where non-accredited investors may purchase them through a brokerage account, subject to OTC market availability.
Does the trust pay dividends or interest?
No, Grayscale Filecoin Trust (FIL) does not pay dividends or interest. The trust's sole purpose is to track the price of Filecoin. Any returns are realized through the price appreciation of the trust's shares or through trading at a premium to NAV.
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