Grayscale Cleared to Launch First Spot Chainlink ETF as Institutional Interest Rises

Grayscale has secured approval to move forward with the first spot Chainlink (LINK) exchange-traded fund, marking the asset manager’s third crypto ETF launch in just two weeks. According to ETF analyst Nate Geraci, the SEC has granted uplisting clearance, allowing the existing Grayscale Chainlink Trust to convert into a fully tradable ETF on NYSE Arca. This shift gives traditional investors a regulated and familiar way to gain exposure to LINK, a token increasingly recognized for its role in powering real-world blockchain utility.

Grayscale filed its S-1 registration in late September to formalize the conversion, following recent introductions of similar XRP and Dogecoin funds. The new GLNK ETF is notable because it includes a staking component, which has drawn attention from regulators. Analysts say the SEC still seeks clarity on how yield-generating mechanisms should operate within digital asset funds. Meanwhile, Bitwise’s CLNK ETF, which excludes staking, has already appeared on the DTCC registry and was initially expected to launch first.

Chainlink’s rising prominence has fueled demand for institutional-grade investment products. In a recent report titled The Link Between Worlds, Grayscale researchers highlighted LINK as the leading asset in crypto’s Utilities & Services sector, describing it as the “picks and shovels” of on-chain finance. They also emphasized that LINK is the largest non–Layer 1 token by market cap, reflecting its expanding use in tokenization and cross-chain infrastructure.

Institutional adoption has accelerated throughout 2024. CaliberCos became one of the first U.S. companies to publicly hold and stake LINK as part of its treasury strategy. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) has also been integrated in major pilots, including Hong Kong’s cross-border digital currency test and World Liberty Financial’s multi-chain deployment of USD1.

With regulatory approval secured and enterprise adoption growing, Grayscale’s Chainlink ETF is positioned to meet increasing demand for secure, regulated access to LINK as the token continues to play a critical role in global blockchain infrastructure.