Launch expected this week as competition in crypto-linked funds intensifies
Grayscale is preparing to introduce the United States’ first spot Chainlink (LINK) exchange-traded fund, with the launch anticipated this week following the conversion of the firm’s existing LINK trust. The move positions the asset manager at the forefront of a new wave of crypto-focused ETFs entering the market.
Industry observers expect the fund to go live on Tuesday, aligning with projections from multiple ETF analysts. The product will mirror the spot price of LINK and capture additional returns generated through staking, offering investors direct exposure to the Chainlink network’s underlying token without requiring custody of the asset itself.
The ETF emerges amid a growing backlog of crypto products awaiting regulatory clearance. A competing Bitwise spot Chainlink ETF is also approaching potential approval, highlighting intensifying competition within the sector. Eric Balchunas suggested that more than 100 new crypto ETFs could reach the market over the next six months as regulatory momentum accelerates.
The Chainlink move extends Grayscale’s recent strategy of converting long-standing trusts into publicly traded funds. The firm launched its original LINK trust in 2020 and has since broadened its lineup to include spot ETFs tied to XRP and Dogecoin.
BitXJournal market strategist described the rollout as a notable moment for the token’s ecosystem. “Chainlink has become core infrastructure for data movement across blockchains,” ETF’s structure may appeal to institutions seeking regulated access to staking-linked returns.
The launch also reflects a broader shift in the U.S. regulatory environment, where updated leadership at the Securities and Exchange Commission has coincided with an uptick in approvals for crypto-based investment products.
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