Bitwise has filed the first U.S. Chainlink ETF proposal to give institutional investors compliant exposure to LINK via an exchange-traded fund. The filing uses Coinbase Custody for custody and proposes in‑kind creation/redemption, beginning the SEC review that could take several months.
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First U.S. Chainlink ETF filing by Bitwise
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Uses Coinbase Custody and in‑kind creation/redemption to facilitate LINK share issuance.
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Filing is a Form S-1; SEC Form 19b-4 still required to start formal approval.
Bitwise Chainlink ETF filing: Bitwise seeks SEC approval for a Chainlink ETF using Coinbase Custody—track developments and implications for LINK today.
What is the Bitwise Chainlink ETF?
The Bitwise Chainlink ETF is a proposed exchange-traded fund that would track the native token of Chainlink (LINK), enabling investors to gain regulated, tradable exposure to LINK without directly holding the token in brokerage wallets. The filing with the U.S. Securities and Exchange Commission outlines custody, creation/redemption mechanics, and fund structure.
How will the Bitwise Chainlink ETF work?
The fund’s Form S-1 states Coinbase Custody will serve as designated custodian and the ETF would allow in‑kind creation and redemption of LINK. This means authorized participants could deliver LINK to the fund in exchange for ETF shares, or redeem ETF shares for LINK. Bitwise must still file Form 19b-4 to trigger the SEC’s formal review timeline.
When could the ETF be approved?
There is no specific approval date; SEC review cycles can last several months. The process requires Bitwise to submit additional exchange filing paperwork and respond to SEC comments. Market observers note approval timing depends on regulatory clarity and market conditions.
Frequently Asked Questions
How will it affect LINK?
The Bitwise Chainlink ETF could legitimize institutional demand for LINK by offering a brokerage-friendly vehicle. Increased institutional flows typically boost liquidity and can tighten spreads. On announcement day, LINK’s intraday moves reflected positive sentiment: an initial 5% climb from a low of $22.94, with the token trading higher in subsequent sessions.
What about other altcoin ETFs?
Several altcoin ETF proposals remain under SEC consideration, with some timelines extending into late 2025. The Bitwise filing is notable because it singles out Chainlink, a token with strong use cases in oracle services and enterprise partnerships such as a recent collaboration announced with SBI Holdings (mentioned as a plain text source in filings and industry releases).
Key Takeaways
- Historic filing: Bitwise submitted the first U.S. Chainlink ETF Form S-1 to the SEC.
- Custody and mechanics: Coinbase Custody is named as custodian; in‑kind creation/redemption is proposed.
- Next steps: Bitwise must file Form 19b-4; SEC review could take months and will determine approval.
How to track the ETF filing progress
1. Monitor filings and SEC comment letters related to the Form S-1 and any subsequent Form 19b-4 submissions. 2. Watch LINK market liquidity and institutional flow indicators. 3. Review official Bitwise statements and SEC notices for updates.
Conclusion
The Bitwise Chainlink ETF filing marks a milestone for token-specific ETFs in the U.S., positioning LINK for greater institutional relevance if approved. Investors should follow SEC filings, custody arrangements, and market liquidity closely as the review proceeds. COINOTAG will continue reporting updates and implications for traders, funds, and the broader crypto market.
