Grayscale has officially filed for a Chainlink ETF with the U.S. Securities and Exchange Commission, becoming the second asset manager to pursue such a product under the 1933 Securities Act. The move comes shortly after Bitwise’s filing, making Grayscale the latest firm seeking to launch a Chainlink-based exchange-traded fund.
According to the filing, the Grayscale Chainlink Trust (LINK) would be converted into an ETF and listed on the New York Stock Exchange (NYSE) Arca. The company plans to operate under the proposed Generic Listing Standards for Crypto ETFs, which would allow the fund to trade without requiring a 19b-4 filing, provided the SEC grants approval.
Grayscale stated that it will not move forward with the registration until the SEC either adopts the rule change or confirms that approval is unnecessary. The firm has already prepared a prospectus for its proposed LINK ETF in anticipation of this outcome.
The Grayscale Chainlink ETF is designed to hold LINK tokens, giving institutional investors direct exposure to Chainlink. The Bank of New York Mellon will act as transfer agent and administrator, while Coinbase serves as the prime broker and custodian. The ETF is expected to trade under the ticker symbol GLINK. Grayscale has also requested in-kind creation and redemption features, which the SEC recently allowed for Bitcoin ETFs. Additionally, the trust may enable staking in the future if conditions are met.
Meanwhile, LINK’s market price has responded positively to the news. Data from TradingView shows Chainlink trading near $23, marking a gain of more than 3% in the past 24 hours.
