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Bitwise has filed to launch a Chainlink (LINK) spot ETF.
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The product would track LINK’s market price without staking.
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Coinbase would serve as custodian and prime execution agent.
What’s in the Filing
Bitwise Asset Management has submitted paperwork to the SEC to launch a Chainlink ETF. The product would give investors regulated exposure to LINK, the token of the Chainlink oracle network, by tracking its spot market price. Coinbase Custody Trust Company is listed as custodian, while Coinbase, Inc. will act as prime execution agent.
How the ETF Works
The filing outlines standard creation and redemption processes, allowing both in-kind and cash transactions. Notably, it does not include staking, despite recent SEC guidance confirming that staking is not considered a securities transaction. This means the ETF would be a direct pass-through product, without yield from validator rewards.
Why It Matters
The move expands the range of crypto ETFs beyond bitcoin and ether, showing Wall Street’s growing interest in single-token funds. Bitwise CIO Matt Hougan has previously highlighted LINK as one of the strongest plays in the tokenization narrative. LINK is currently trading at $23, far below its 2021 all-time high of $52.
