Grayscale Seeks SEC Approval for First U.S. Chainlink ETF
Grayscale has filed with the U.S. Securities and Exchange Commission to convert its existing Chainlink Trust into a spot ETF, potentially trading under the ticker GLNK on NYSE Arca. The filing, submitted Monday, marks one of the two documents required to formally initiate the ETF application process.
If approved, the ETF could include a staking feature, allowing LINK tokens to earn rewards through third-party providers. Depending on regulatory guidance, rewards could be retained by the fund, distributed to shareholders, or sold to cover operational expenses.
The product would replace the Grayscale Chainlink Trust, which has managed nearly $29 million in assets since February 2026, with Coinbase Custody Trust Company as custodian. Shares would primarily be created and redeemed in cash, mirroring the structure of recently approved U.S. spot Bitcoin and Ethereum ETFs, with in-kind redemptions possible if regulations allow.
Chainlink’s LINK token has surged 3% over the past 24 hours, joining a wider altcoin rally that included XRP (+2.6%), Solana (+5%), and Dogecoin (+7.4%).
This move aligns with Grayscale’s broader strategy to convert single-asset crypto trusts into ETFs, with pending proposals for Solana, Dogecoin, and XRP. While the SEC has not yet approved any of these filings, the firm is positioning to be among the first to launch regulated ETFs for individual cryptocurrencies in the U.S.
If launched, the GLNK ETF would provide investors regulated exposure to Chainlink, the decentralized oracle network that powers smart contracts and blockchain data feeds. The potential staking component could also introduce a unique income opportunity not yet available in most U.S. crypto ETFs.
Market response has been positive, with LINK emerging as one of the day’s strongest-performing altcoins.
