Cryptocurrency company Grayscale files for transformation of Chainlink Trust into Exchange-Traded Fund (ETF), indicating expanding adoption of digital assets by institutions.
In a significant move for the cryptocurrency industry, Grayscale has filed an application to list a Chainlink Exchange-Traded Fund (ETF) on NYSE Arca, under the ticker GLNK. This development comes as the latest step in the growing acceptance of digital assets by traditional financial institutions.
Currently ranking as the 13th largest cryptocurrency by market capitalization, Chainlink boasts a valuation near $15.1 billion. With a trading price of around $22.29, 87.5% of its circulating supply sits in profit, reflecting the strong investor sentiment towards the project.
Chainlink operates as a decentralized oracle network, connecting blockchain smart contracts to real-world data. The platform recently announced a partnership with the U.S. Department of Commerce to deliver official macroeconomic data on-chain, further solidifying its position in the digital finance landscape.
The proposed ETF structure removes technical barriers that prevent many institutional investors from accessing cryptocurrencies directly. This move could pave the way for wider institutional adoption of Chainlink, marking a significant step forward in the maturation of the crypto market.
Grayscale's Bitcoin and Ethereum trusts have been converted into spot ETFs in early 2024, setting a precedent for additional cryptocurrency investment products. The shortened SEC review timeline of 75 days accelerates approval prospects compared to previous years.
The SEC under the Trump administration launched "Project Crypto" in July 2025 to modernize its approach to digital finance. The current SEC Chair, Paul Atkins, plays a significant role in the development of the regulatory environment for crypto-ETFs in the USA.
Multiple asset managers, including VanEck, 21Shares, and Franklin Templeton, have filed similar applications for various cryptocurrency ETFs. Success for either Grayscale or Bitwise's Chainlink ETF filings could open doors for additional altcoin ETFs focused on Solana, XRP, and other major cryptocurrencies.
Analysts project that ETF approval could inject $2.25 billion in new capital into LINK markets. The proposed ETF would allow institutional and retail investors to gain exposure to LINK without dealing with the technical challenges of buying and storing the cryptocurrency directly.
Grayscale's filing includes potential for in-kind redemptions if future regulations permit and may engage in staking activities once regulatory and tax conditions are satisfied. The ETF would be structured similarly to successful Bitcoin and Ethereum funds, using cash-based creation and redemption processes with Coinbase Custody as the custodian.
NYSE Arca has proposed generic listing standards for crypto ETPs, which would allow certain digital asset products to list without case-by-case SEC approval. This development could expedite the listing process for future cryptocurrency ETFs, further encouraging the growth of the digital asset market.
The institutional adoption of Chainlink through regulated ETFs represents the next phase of crypto market maturation, moving beyond early adopters to mainstream financial institutions. As the landscape continues to evolve, it's clear that cryptocurrencies are increasingly becoming a part of traditional finance.
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