Grayscale has received regulatory approval to convert its existing Chainlink Trust into the US’s first spot Chainlink exchange-traded fund (ETF), with trading anticipated to commence on December 2, 2025. The conversion process involves uplisting the private LINK trust to a publicly traded vehicle listed on NYSE Arca, enabling direct institutional and retail exposure to LINK through a regulated framework.
ETF Institute co-founder Nate Geraci announced via social media that the product, ticker GLNK, would be the market’s first spot LINK ETF, marking a milestone for Chainlink’s institutional adoption. Bloomberg Intelligence senior ETF analyst Eric Balchunas corroborated the December 2 launch timeline, citing internal listing data and aligning expectations with a broader wave of crypto ETF approvals.
The Grayscale Chainlink ETF will track the spot price of the Chainlink token and incorporate returns generated from on-chain staking of LINK where permissible under regulatory guidelines. The fund’s expense ratio and fee structure mirror Grayscale’s previous conversion products, with the aim of providing a cost-effective, liquid vehicle for LINK exposure within traditional asset allocation strategies.
The launch follows recent approvals of spot ETFs for XRP, Dogecoin and Solana, reflecting a shift in SEC leadership and evolving regulatory perspectives toward digital-asset-linked investment products. Market participants expect heightened competition as rival managers, including Bitwise, prepare similar LINK ETF applications, potentially driving fee compression and expanding product choice.
Chainlink’s role as a blockchain oracle network, providing external data feeds and interoperability through its Cross-Chain Interoperability Protocol (CCIP), positions LINK as a strategic component within decentralized finance and traditional finance integrations. The ETF launch may enhance Chainlink’s liquidity profile and on-chain utility, supporting market depth and reducing trading friction for token-based derivatives.
Grayscale will coordinate with market makers and authorized participants to manage creation and redemption processes, ensuring tracking error remains minimal and secondary-market spreads stay tight. Initial fund flows are expected to provide insights into retail demand for altcoin exposure via ETF wrappers, with early inflows informing potential future expansions for other protocols.
Industry observers noted that the launch could catalyze mainstream portfolio allocation to Chainlink, augmenting its market capitalization and fostering deeper integration within multi-asset digital-asset ETFs. The event underscores the growing institutional on-ramp for altcoins beyond Bitcoin and Ethereum, reinforcing the maturation of the digital-asset marketplace.
Comments (0)