- Bitwise Asset Management filed the first US application for a Chainlink ETF with the SEC, designed to track LINK’s price using Coinbase as custodian and execution agent.
- The ETF will use standard creation/redemption mechanisms with flexibility for in-kind and cash transactions, providing regulated access to Chainlink’s oracle network token.
- Tuttle Capital has also submitted filings for leveraged crypto ETFs including a 2x daily return Chainlink product using swaps, options and direct holdings.
- European investors already access LINK through physically backed ETPs from 21Shares, VanEck and Global X, highlighting the US market’s lag in non-Bitcoin/Ethereum crypto ETF approvals.
Bitwise Asset Management has filed a preliminary S-1 with the US Securities and Exchange Commission (SEC) seeking approval for the Bitwise Chainlink exchange-traded fund (ETF). This is the first proposed US-listed fund designed to track the price of LINK, the native token of the Chainlink oracle network.
The filing states the ETF’s objective is for its shares to mirror LINK’s market value, with Coinbase Custody Trust Company named as custodian and Coinbase, Inc. as the main execution agent. The sponsor intends for the fund to list on a US national exchange, though no specific venue has been disclosed.
According to the filing, the product will use standard ETF creation and redemption mechanisms, with flexibility for both in-kind and cash transactions via a “Trust-Directed Trade” process handled by the execution agent.
This structure is designed to provide regulated, transparent access to LINK’s price performance, while offering institutional-grade custody and settlement.
Chainlink is a major player in decentralised finance (DeFi) by serving as a decentralised oracle network that delivers off-chain data – such as market feeds – to smart contracts. Its token, LINK, is used to incentivise node operators, secure data delivery, and facilitate governance within the network’s proof-of-stake system.
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US Lags in Non-Ether Altcoin ETF Approvals
Tuttle Capital has also submitted SEC filings for a set of ten leveraged crypto ETFs, including one tied to Chainlink (LINK). These are designed to deliver 2× the daily return of the underlying asset, using swaps, call options and direct holdings.
While Bitwise’s ETF would be the first US-based Chainlink ETF, similar products already exist overseas. In Europe, firms like 21Shares, VanEck and Global X, offer physically backed Chainlink ETPs/ETNs that trade on regulated markets.
These products have provided European investors with exposure to LINK for some time, highlighting the US market’s relative lag in bringing non-Bitcoin and non-Ethereum ETFs to life.
If approved, Bitwise’s fund would significantly expand regulated crypto ETF offerings in the US, joining recently launched spot Bitcoin and Ethereum ETFs and further diversifying institutional access to the broader digital asset ecosystem.
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