The prospects of a Chainlink ETF launch have gained momentum. This comes after an ETF tracking the performance of LINK appears on the Depository Trust & Clearing Corporation (DTCC).
Notably, the Bitwise Chainlink ETF, expected to trade under the ticker symbol CLNK, has been included on the DTCC eligibility list. The listing is part of standard settlement procedures, which show progress in the process, but doesn’t mean that the ETF has received regulatory approval.
Meanwhile, the DTCC inclusion positions Bitwise’s Chainlink ETF for trading once it receives the SEC’s approval. The fund’s approval could mark a key milestone, offering institutional investors regulated exposure to the Chainlink ecosystem.
Bitwise confirmed in its S-1 filing that Coinbase Custody Trust Company will act as the fund’s custodian, ensuring secure asset management. The ETF’s structure allows for in-kind creation and redemption, enabling investors to exchange shares directly for LINK tokens, an approach expected to improve liquidity and reduce tracking errors. Grayscale is filing for a similar product under the ticker GLNK, which will list on the NYSE Arca.
Expanding ETF Lineup
Bitwise’s ETF initiative comes shortly after the launch of its Solana Staking ETF (BSOL) in October, which attracted over $420 million in its first week, according to LSEG data. Remarkably, the firm has also applied for ETFs tracking Solana, XRP, Dogecoin, and Aptos.
Currently, Bitwise’s Bitcoin ETF holds approximately 40,730 BTC, valued at nearly $2.3 billion, while its Ethereum ETF manages 113,605 ETH, worth roughly $385 million. JPMorgan recently projected that altcoin ETFs could attract as much as $14 billion in inflows within their first six months, with nearly half expected to flow into Solana-based funds.
Chief Investment Officer Matt Hougan remarked that Bitwise aims to pioneer responsibly, highlighting compliance and first-mover advantage. Notably, the SEC’s “generic listing standards” introduced earlier this year could streamline approval processes for compliant digital asset ETFs, potentially allowing funds like CLNK to go live without individual case reviews.
Chainlink Price Shows Volatility
Following the DTCC update, Chainlink’s native token LINK traded at around $15.63, reflecting a 2.7% daily decline and a 19% drop over the past month. Despite short-term weakness, the token remains up 6.43% on the week, supported by increased on-chain activity and renewed investor participation.
CoinGecko data shows LINK fluctuating between $15.23 and $16.70, highlighting increased volatility tied to the anticipation of the ETF. Earlier this month, LINK touched year-to-date lows near $14 before recovering toward resistance levels around $16–$17.
The CoinRemark Team
Evans Kelvin
