Grayscale to Launch First US Spot Chainlink ETF

Crypto asset manager Grayscale is preparing to roll out the United States’ first spot Chainlink exchange-traded fund this week, according to ETF Institute co-founder Nate Geraci. “Set to launch this week… First spot link ETF. Grayscale will be able to uplist/convert Chainlink private trust to ETF,” Geraci posted on X on Sunday. His comments arrive as a similar product from Bitwise sits close behind in the approval queue.

Analysts expect a wave of new crypto ETFs

Geraci’s timeline aligns with projections from Bloomberg Intelligence, where senior ETF analyst Eric Balchunas has pointed to Dec. 2 as the expected launch date. Balchunas recently said a large number of cryptocurrency ETFs could be arriving soon, predicting a “steady supply” of new products — potentially more than 100 — over the next six months.

“There are 5 spot crypto ETFs launching over next 6 days. Beyond that we don’t have exact but we expect a steady supply of them (likely over 100 in next six months),” Balchunas wrote on X on Nov. 24.

Like Grayscale’s previous ETF conversions, the Chainlink product will transition from the firm’s existing LINK trust created in late 2020. The ETF is designed to mirror LINK’s spot price and incorporate rewards generated from staking.

Growing Institutional Interest in the Chainlink Ecosystem

Grayscale has increasingly highlighted Chainlink’s role in bridging traditional finance and blockchain, describing it in a recent research report as a “critical connective tissue” between the two sectors.

The shift in SEC leadership earlier this year has accelerated ETF approvals across the crypto market. Products tied to Solana, XRP, and Dogecoin have all received the green light, and Grayscale added spot XRP and DOGE ETFs to its lineup last month.

Sources:

https://cointelegraph.com/news/grayscale-set-launch-first-ever-spot-link-etf-via-trust-conversion

https://x.com/nategeraci/status/1995300310227501522?s=46&t=MuRujqZUAz3TQE1vmr3c6A