As the ETF wave continues in altcoins, the latest news came for Chainlink (LINK).
Accordingly, the LINK ETF is next in line for altcoin ETFs to be launched.
Nate Geraci, President of The ETF Store, stated in his post from the X account that the spot Chainlink ETF is expected to be launched this week.
Geraci added that Grayscale plans to spin off the existing Chainlink private trust into a public ETF.
The product will be the first publicly traded LINK spot ETF to enter the US market.
“Grayscale looks likely to launch the world’s first spot Chainlink ETF this week.”
Geraci’s forecast aligns with Bloomberg Intelligence’s estimate, which predicts Grayscale’s product will launch on December 2, according to Bloomberg’s senior ETF analyst Eric Balchunas.
Like Grayscale’s other ETFs, the Grayscale Chainlink Trust will be created by converting the company’s LINK trust into a spot ETF. The trust was established in late 2020 and will convert to an ETF five years later.
The product will generate returns by tracking the spot price of LINK and will also include returns from staking LINK.
Apart from LINK, Grayscale also launched spot XRP and Dogecoin (DOGE) ETF last month.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/the-etf-wave-continues-etf-analyst-announces-the-first-us-etf-for-this-altcoin-will-arrive-this-week/
