Crypto Asset Management Company Bitwise Files for ETF for Rising Altcoin! Details Here

Crypto asset management firm Bitwise Asset Management has filed a preliminary S-1 filing with the ￰0￱ and Exchange Commission (SEC) to launch its Bitwise Chainlink ￰1￱ Files with SEC for Chainlink (LINK) ETF Designed as a regulated investment product, the fund aims to track the price performance of LINK, the native token of the decentralized oracle network ￰2￱ to the filing, the fund's goal is for the shares to reflect the market value of ￰3￱ Custody Trust Company is serving as custodian, while Coinbase, ￰4￱ serving as the primary ￰5￱ shares are planned to be listed on a national exchange in the US, but the exact platform has not yet been ￰6￱ documents describe the fund's standard formation and redemption mechanisms, noting that both cash and asset-based transactions will be executed through a process called “Trust-Directed Trade.” Importantly, the filing did not include any plans for LINK ￰7￱ the SEC's clarification of the legal framework surrounding staking, the fund will only offer direct exposure to the spot price of ￰8￱ Chainlink network stands out as one of the largest oracle protocols connecting blockchains with real-world ￰9￱ LINK token is used both to incentivize validators and to play a role in network governance.

Bitwise's move is part of a growing trend to expand single-asset crypto ETF products beyond Bitcoin and ￰10￱ recently also applied to convert its Avalanche Trust into the spot AVAX ￰11￱ CIO Matt Hougan described LINK as one of the strongest crypto assets compatible with the tokenization wave in a report published in July. *This is not investment ￰12￱ Reading: Crypto Asset Management Company Bitwise Files for ETF for Rising Altcoin! Details Here