Grayscale Pushes for Spot Chainlink ETF Approval in the U.S.

Grayscale has taken another step in expanding its crypto portfolio by filing first spot Chainlink (LINK) exchange-traded funds (ETFs) to American ￰0￱ move, which also includes a possible staking feature, was announced in a recent S-1 registration statement with the ￰1￱ and Exchange Commission (SEC). Grayscale to Convert Chainlink Trust to ETF The proposed product is designed as a conversion of the existing Grayscale Chainlink ￰2￱ approved, it would trade on NYSE Arca under the ticker GLNK, with Coinbase Custody Trust Company acting as ￰3￱ would gain direct exposure to the price of LINK, the token that powers Chainlink’s decentralized oracle ￰4￱ traditional trusts, the ETF would process share creations and redemptions in ￰5￱ follows the same model used by recently approved spot Bitcoin and Ethereum ETFs.

However, the filing leaves room for in-kind redemptions in the future if regulators ￰6￱ makes the filing especially notable is the potential staking ￰7￱ ETF may allocate a portion of its LINK to staking if regulatory and tax conditions ￰8￱ could create an additional stream of income for investors in the form of ￰9￱ would be handled by third-party providers, while the tokens themselves remain under ￰10￱ fund would decide whether rewards are retained, sold, or ￰11￱ of a Bigger ETF Race Bitwise was the first to file for an ETF focused on Chainlink (LINK). Grayscale’s new filing shows that big investors are paying more attention to Chainlink’s network.

Meanwhile, Grayscale has not limited its ambitions to ￰12￱ recent weeks, it has filed for Avalanche and Dogecoin ￰13￱ adds to earlier filings for Solana (SOL), Litecoin (LITE), and XRP. Also, big asset managers like 21Shares and VanEck are rushing to get their own spot crypto ETFs ￰14￱ new wave of ETF filings comes at a time when the rules and oversight around crypto are becoming ￰15￱ Grayscale’s filing, the price of LINK went up by almost 4%, reaching $23.00, according to CoinMarketCap ￰16￱ Strengthens Network With New LINK Reserve and Major Milestones Chainlink is one of the most popular decentralized oracle ￰17￱ allows blockchains to connect with real-world data in a safe way.

LINK, the platform’s own token, is used to pay node operators and also helps secure the network through ￰18￱ August, Chainlink launched a special LINK reserve that is supported by both on-chain and off-chain ￰19￱ goal is to support the protocol’s long-term growth and ￰20￱ move came shortly after Chainlink reached a major milestone. Reportedly, Chainlink is now the first platform to earn ISO 27001 certification and SOC 2 Type 1 ￰21￱ platform’s progress is also attracting traditional finance ￰22￱ asset manager Caliber recently announced plans to build a crypto treasury by betting on Chainlink’s native token LINK.