Bitwise has filed to launch the Bitwise Chainlink ETF, a fund designed to hold Chainlink (LINK) tokens with Coinbase Custody as custodian; it proposes in‑kind creation and redemption of LINK and now awaits SEC review pending a Form 19b‑4 submission.
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First U.S. ETF filing to track Chainlink (LINK)
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Bitwise names Coinbase Custody as custodian and plans in‑kind creation/redemption using LINK.
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LINK price rose ~4.2% after the filing; LINK is up ~26% over 30 days (CoinGecko).
Bitwise Chainlink ETF: Bitwise files to launch a Chainlink (LINK) ETF with Coinbase Custody; read analysis of market impact and investor access—learn more now.
Bitwise Asset Management has filed to launch an exchange‑traded fund that holds and tracks Chainlink’s native token, LINK, marking the first U.S. ETF filing dedicated to Chainlink as issuers expand altcoin ETF attempts.
What is the Bitwise Chainlink ETF?
The Bitwise Chainlink ETF is a proposed exchange‑traded fund filed with the U.S. Securities and Exchange Commission that would hold Chainlink (LINK) tokens and offer in‑kind creation and redemption using LINK. The filing names Coinbase Custody as custodian and begins the SEC review process once a Form 19b‑4 is submitted.
How will the ETF hold and trade LINK?
The fund’s Form S‑1 indicates it would directly hold LINK tokens in custody, with Coinbase Custody named as the custodian. In‑kind mechanics let authorized participants exchange LINK for ETF shares, limiting the need for constant fiat conversions and aiming to reduce tracking error.
Why does this matter for LINK holders and investors?
Direct ETF exposure can broaden institutional and retail access to LINK without requiring direct custody from investors. The filing coincides with a short‑term price boost: LINK rose about 4.2% to $24.18 in 24 hours, and is ~26% higher over 30 days (CoinGecko).
When did Bitwise file and what are the next steps?
Bitwise submitted a Form S‑1 to the SEC on Tuesday. The company must next file a Form 19b‑4 to start the exchange listing and approval process. SEC review timelines vary; filings do not guarantee approval.
How has LINK performed since the filing?
LINK rose roughly 4.2% in the 24 hours after Bitwise’s filing, reaching $24.18, according to CoinGecko. Over the past 30 days LINK gained ~26% but remains well below its May 2021 peak near $53.
How does this filing fit into the broader altcoin ETF trend?
Fund issuers are increasingly filing altcoin‑linked ETF applications with the SEC. Market participants cite a more favorable regulatory tone as a factor in the surge of filings for altcoin and staking‑related products.
What comparative data exists for Bitwise’s other crypto ETFs?
Bitwise already manages ETFs tracking major cryptocurrencies. Public estimates from Farside Investors show meaningful assets under management for those funds.
| Fund | Tracked Asset | Assets Under Management (approx.) |
|---|---|---|
| Bitwise Bitcoin ETF | Bitcoin (BTC) | $2.26 billion (Farside Investors) |
| Bitwise Ether ETF | Ether (ETH) | $460 million (Farside Investors) |
Which other issuers are pursuing altcoin or staking ETFs?
Recent filings include VanEck’s submission for a JitoSOL‑based ETF (a liquid staking token) and Grayscale’s application to convert an Avalanche (AVAX) trust into an ETF. Canary Capital has filed ETF proposals offering novel and thematic exposures.
Frequently Asked Questions
Does the Bitwise filing name a ticker or fee schedule?
Bitwise did not disclose a ticker symbol, listing exchange, or fee schedule in the initial Form S‑1. Those details typically appear in later filings or registration statements.
How quickly could an ETF like this be approved?
Approval timelines vary widely. After a Form 19b‑4 is filed, the SEC conducts review and may request amendments; the process can take months and approval is not assured.
Key Takeaways
- First Chainlink ETF filing: Bitwise filed the inaugural U.S. ETF focused on Chainlink (LINK).
- Custody and mechanics: The fund names Coinbase Custody and proposes in‑kind LINK creation/redemption.
- Broader trend: The filing is part of a growing wave of altcoin and staking‑related ETF applications to the SEC.
Conclusion
Bitwise’s Chainlink ETF filing marks a notable step in altcoin ETF development, signaling expanded investor access to LINK via regulated fund structures. Investors and market participants should monitor subsequent SEC filings and disclosures for listing details and fee information. COINOTAG will update this report as further filings and regulatory actions occur.
