Grayscale Files With SEC to Convert Its Chainlink Trust Into a Spot ETF

Grayscale Investments has filed a registration with the U.S. Securities and Exchange Commission (SEC) seeking to convert its Chainlink Trust into a spot Chainlink exchange-traded fund (ETF). 

If approved, the ETF would be among the first funds to offer regulated exposure to the token powering Chainlink’s decentralized oracle network.

Grayscale Files to Launch Chainlink ETF

Grayscale has submitted an S-1 filing to the SEC, aligning with its broader initiative to expand access to digital assets beyond its current offerings, which include Bitcoin and Ethereum. A Chainlink spot ETF would track in real-time the price of LINK, ensuring that institutional investors have direct access via stock exchanges. 

According to the filing, the investment manager intends to list the ETF on the NYSE Arca under the symbol GLNK. Grayscale Investments Sponsors, LLC and Grayscale Operating, LLC are the co-sponsors of the trust. Coinbase Custody Trust Company would serve as the custodian for the fund. 

The proposed ETF may stake a portion of its LINK holdings, subject to tax and regulatory conditions permitting. Staking would be carried out through third-party providers while assets remain in Coinbase Custody wallets. Rewards will either be retained, sold, or distributed to investors.

Like existing spot Bitcoin and Ethereum ETFs, the fund plans to handle share creations and redemptions in cash rather than in-kind. However, it may support in-kind redemptions in the future if regulators allow.

Meanwhile, Grayscale’s move comes amid a wave of altcoin-specific ETF filings from established issuers. Bitwise and other managers have already submitted their own S-1s for Chainlink ETFs. The filings have fueled a competition that could likely speed adoption if the SEC approves the applications.

Chainlink Gains Momentum

Chainlink is a decentralized oracle network that connects blockchains to real-world data, enabling smart contracts to securely access asset prices and external events. Its token LINK is used to pay node operators for providing reliable data and to secure the network through staking.

At the time of writing, the asset is trading at $23.24, representing a 3.7% increase over the last 24 hours.  Last month, CaliberCos, a  Nasdaq-listed firm, announced the approval of a digital asset treasury strategy focused on Chainlink’s LINK.

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