📊 Bitwise Moves First on Chainlink ETF Filing
Bitwise Asset Management has officially become the first issuer to file for a spot Chainlink ETF in the United States. The filing with the Securities and Exchange Commission (SEC) reveals the fund would be named the Bitwise Chainlink ETF, with Coinbase Custody serving as the custodian.
The ETF will hold Chainlink (LINK) directly and allow in-kind creation and redemption, meaning investors can buy and sell ETF shares using the LINK token.
While the application confirms its structure, Bitwise has not yet disclosed the ETF’s ticker symbol, listing exchange, or fees.
📈 LINK Price Reacts to ETF News
The announcement immediately impacted the market. According to CoinGecko, LINK surged 4.2% to $24.18 within 24 hours of the filing. Over the past 30 days, LINK has gained more than 26%, though it remains far below its all-time high of nearly $53 in May 2021.
🌐 Altcoin ETFs Gain Momentum
Bitwise’s move reflects a broader trend of altcoin ETF filings amid a more crypto-friendly U.S. regulatory environment. The firm already manages successful Bitcoin and Ethereum ETFs, with $2.26 billion and $460 million in assets under management, respectively.
Other issuers are also racing to launch new products:
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VanEck recently filed for an ETF tied to JitoSOL, a Solana-based staking token.
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Grayscale is seeking to convert its Avalanche (AVAX) Trust into an ETF.
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Canary Capital has applied for ETFs tied to Official Trump (TRUMP) and a U.S.-focused crypto basket (MRCA).
🔮 What’s Next for Chainlink and ETFs?
If approved, Bitwise’s Chainlink ETF could open the door for more altcoin-specific ETFs, offering traditional investors an easier path to gain exposure to emerging blockchain projects.
As competition heats up, investors are watching closely to see whether the SEC embraces this new wave of crypto-linked funds.
👉 Stay updated on the latest crypto ETF trends at CryptoDice News
