Grayscale Pushes for SEC Approval to Launch First Spot Chainlink ETF in US

Grayscale is once again pushing the boundaries of crypto investing. The digital asset manager has filed with the U.S. Securities and Exchange Commission (SEC) to convert its existing Chainlink Trust into a spot Chainlink exchange-traded fund (ETF).

If approved, the ETF would trade on NYSE Arca under the ticker GLNK, with Coinbase Custody serving as the fund’s custodian.

This move could make Chainlink (LINK) one of the first altcoins in the U.S. to gain an SEC-approved spot ETF, opening the door for broader institutional and retail participation in the token.

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Key Takeaways

1. Grayscale has filed with the SEC to launch a spot Chainlink ETF under the ticker GLNK.

2. The ETF would track LINK’s price directly and could include staking benefits if approved.

3. This filing is part of Grayscale’s wider push to expand beyond Bitcoin and Ethereum.

Grayscale’s Plan for a Chainlink ETF

Grayscale’s filing represents another milestone in its efforts to make crypto investing more accessible.

The proposed product would transform the existing Grayscale Chainlink Trust into a spot ETF, tracking the price of LINK directly.

Instead of holding tokens themselves, investors could buy shares in the fund that mirror LINK’s market performance.

If given the green light, the ETF will list on NYSE Arca under the ticker GLNK. Coinbase Custody Trust Company would hold the underlying assets, ensuring a regulated and secure structure.

Much like the spot Bitcoin and Ethereum ETFs that launched earlier in 2024, this fund would process share creations and redemptions in cash.

Over time, in-kind redemptions could be introduced if regulators allow, adding another layer of flexibility for investors.

An interesting aspect of the proposal is the potential for staking. Grayscale suggested that if tax and regulatory conditions permit, the ETF could stake part of its holdings with third-party providers.

This would generate additional yield while maintaining full custody of assets. Rewards could be reinvested, distributed, or sold, offering more options to investors seeking yield-generating products.

The significance of this filing extends beyond Chainlink itself. Grayscale has already proven that trust-to-ETF conversions can succeed, having turned its Bitcoin Trust (GBTC) and Ethereum Trust (ETHE) into spot ETFs earlier this year.

By bringing LINK into the same structure, Grayscale aims to replicate that success with one of the most important tokens in the decentralized finance ecosystem.

Read Also: Chainlink Reserve Tops 237K After Adding 43,937 LINK Tokens

The Growing Altcoin ETF Race

Grayscale’s Chainlink ETF proposal is part of a much larger trend in the crypto market. After years of focus on Bitcoin and Ethereum, asset managers are now racing to bring altcoins into regulated ETF products.

Grayscale is one of the most active participants in this race, with filings for Avalanche (AVAX), Dogecoin (DOGE), Solana (SOL), XRP, and Litecoin (LTC) ETFs already in the pipeline.

Competitors are also moving quickly. Bitwise filed its own application for a Chainlink ETF in August 2025, showing rising demand for LINK among institutional investors.

Other big names such as VanEck, Franklin Templeton, and 21Shares are pursuing ETFs tied to various altcoins including Cardano, Polkadot, and Hedera.

This wave of filings reflects a growing belief that investors want diversified exposure beyond the two largest cryptocurrencies.

The timing of Grayscale’s filing is also notable. The Trump administration has taken a friendlier stance toward crypto compared to the prior administration, with the SEC showing more openness toward new digital asset products.

This environment may improve the chances of approval for altcoin ETFs, though regulatory caution still lingers.

If Grayscale secures approval first, it could gain a significant advantage in attracting investors. Being the first to market often brings higher inflows, as seen with Bitcoin ETFs earlier this year.

This race is not only about capturing market share but also about shaping how altcoins are integrated into mainstream finance.

Read Also: Chainlink (LINK) Price Ready to Explode After $16 Support Test?

Why Chainlink Matters for DeFi and Investors

Chainlink is not just another token. It serves as the backbone for many decentralized finance (DeFi) applications by connecting smart contracts with real-world data.

Through its decentralized oracle network, Chainlink provides reliable feeds for asset prices, interest rates, and external events. Without it, many DeFi protocols could not function effectively.

The LINK token powers this ecosystem. Node operators are paid in LINK for providing data, while staking secures the network against manipulation.

Just recently, Chainlink introduced a strategic reserve funded by both on-chain and off-chain income to support its long-term growth and sustainability. This makes it not just a utility token but also an asset with a carefully designed economic model.

For investors, a spot ETF offers a straightforward way to gain exposure to LINK’s value without dealing with wallets, exchanges, or custody risks.

With an ETF, traditional investors can add LINK exposure to their portfolios just like they would with stocks or gold.

A regulated product also strengthens LINK’s credibility. It signals that regulators see Chainlink as a legitimate investment vehicle, which could encourage broader adoption among institutions.

In turn, this could impact LINK’s price and liquidity, making it a more significant player in the crypto market.

Read Also: Chainlink on the Edge: Will LINK Explode Past Resistance Like XRP?

Conclusion

Grayscale’s filing for a spot Chainlink ETF marks another leap forward in the integration of crypto into traditional finance.

If approved, the product will let investors gain direct exposure to LINK through a regulated exchange, offering security, convenience, and even potential staking benefits.

With competitors also in the race, the push for altcoin ETFs is accelerating, showing that the market’s focus is expanding well beyond Bitcoin and Ethereum.

For investors looking to diversify into crypto safely, platforms like Bitrue make it even easier. Bitrue offers a secure environment to buy, trade, and manage digital assets, including LINK.

As products like ETFs bring crypto into the mainstream, using trusted exchanges ensures you stay ahead while keeping your investments safe.

FAQ

What is a spot Chainlink ETF?

A spot Chainlink ETF directly tracks the price of LINK, allowing investors to gain exposure without holding the token themselves.

How would Grayscale’s Chainlink ETF work?

The ETF would trade under GLNK on NYSE Arca, with Coinbase Custody holding the assets. It may also include staking if permitted.

Why is Chainlink important in crypto?

Chainlink connects blockchains to real-world data, powering decentralized finance and smart contracts. LINK tokens secure and fuel this network.

When could the ETF launch?

The SEC must first approve the filing. Timelines vary, but approval could come within months if regulators are favorable.

Can I buy Chainlink without the ETF?

Yes, LINK can already be purchased directly on crypto exchanges like Bitrue.

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