Bitwise Asset Management has filed to launch an exchange-traded fund (ETF) that would hold and track the native token of the Chainlink blockchain oracle network.
According to a filing submitted Tuesday with the U.S. Securities and Exchange Commission (SEC), the product will be called the Bitwise Chainlink ETF, with Coinbase Custody serving as the fund’s custodian.
The ETF aims to allow in-kind creation and redemption using Chainlink’s native token, LINK, giving investors a regulated way to gain exposure to the asset.
Bitwise has not yet revealed the fund’s ticker symbol, the exchange it plans to list on, or the associated management fees. The company has filed a Form S-1 registration statement, but still needs to submit a Form 19b-4 to formally initiate the SEC’s review process. If approved, this would mark the first U.S. ETF directly tracking Chainlink
LINK Price Rose
Chainlink’s native token LINK rose 4.2% in the past 24 hours, trading at $24.18, according to data from CoinGecko. The price increase came as Bitwise filed for a U.S. spot Chainlink ETF, aligning with a broader rally in the crypto market.
Despite the recent surge, LINK remains more than 26% higher over the past month, but still trades at less than half of its all-time high near $53 set in May 2021.
The Trump administration’s more welcoming stance on digital assets has encouraged a wave of fund issuers to submit applications for cryptocurrency-based exchange-traded funds (ETFs) to the SEC.
Bitwise, which already manages successful ETFs tied to Bitcoin (BTC) and Ether (ETH), has been among the beneficiaries of this trend. According to data from Farside Investors, the firm’s Bitcoin ETF currently oversees about $2.26 billion in assets, while its Ether product manages around $460 million.
