Grayscale Set to Launch First Spot Chainlink ETF in the US

Crypto asset management firm Grayscale is poised to introduce the United States’ inaugural spot Chainlink exchange-traded fund (ETF) this week, as stated by Nate Geraci, co-founder of the ETF Institute. “Set to launch this week… First spot LINK ETF. Grayscale will be able to uplist/convert the Chainlink private trust to an ETF,” Geraci shared on X this past Sunday.

Key Takeaways

Grayscale is set to launch the first spot Chainlink ETF in the US this week.
The ETF will convert Grayscale’s existing Chainlink trust established in late 2020.
The ETF aims to track the spot price of LINK and returns from staking.
Bloomberg Intelligence predicts numerous crypto ETFs could launch in the upcoming months.

In line with other ETFs from Grayscale, the Chainlink Trust will transition into an ETF five years after its establishment in late 2020. This new product will produce returns by both tracking the spot price of LINK and receiving returns from staking LINK.

Grayscale maintains a positive outlook on the Chainlink ecosystem, describing it in a recent research report as the “critical connective tissue” that links cryptocurrency with traditional finance. This year, a change in leadership at the SEC has led to an increase in the approval of crypto ETFs in the United States, including those tied to assets such as Solana, XRP, and Dogecoin. Additionally, last month, Grayscale launched spot ETFs for XRP and DOGE.

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Grayscale to launch US’s first spot Chainlink ETF via trust conversion

This news comes alongside a competing Chainlink ETF from another crypto asset manager, Bitwise, which is also in the pipeline.

_Source:_Nate Geraci

Geraci's prediction aligns with projections from Bloomberg Intelligence, which foresees Grayscale’s product launch on December 2, according to Eric Balchunas, a senior ETF analyst at Bloomberg. Last week, Balchunas suggested that a “steady supply” of potentially over 100 ETFs might launch in the next six months, as he shared a screenshot indicating Grayscale’s expected launch date for its LINK ETF. “There are 5 spot crypto ETFs launching over the next 6 days. Beyond that, we don’t have exact numbers, but we expect a steady supply of them—likely over 100 in the next six months,” Balchunas reported on X on November 24.