Grayscale Set to Launch First Spot Chainlink ETF

Key Takeaways:

• First spot Chainlink ETF expected this week.
• Altcoin ETFs see strong investor inflows.
• Bitwise preparing a competing LINK ETF.

The company is preparing to convert its existing private Chainlink trust into a publicly traded ETF, giving investors regulated access to LINK without requiring self-custody.

The timeline became clearer after ETF researcher Nate Geraci pointed out that the conversion appears ready for completion. Estimates from Bloomberg ETF analysts support the same schedule, indicating a launch window in early December.

Growing demand for altcoin ETFs

The possible launch of the LINK ETF comes during a period of heavy activity in the altcoin ETF segment. Solana, XRP and Dogecoin funds have attracted strong inflows over the past month, leading analysts to predict more than 100 new crypto ETFs could enter the market over the next six months.

The Canary Capital XRP ETF recorded the strongest first-day inflow of the year at $58 million. Bitwise’s Solana Staking ETF has also been a standout performer, accumulating roughly $660 million in three weeks and maintaining positive daily inflows since its debut. Meanwhile, both Grayscale and Bitwise launched new Dogecoin ETFs recently, adding further competition to the altcoin ETF space.

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Why Chainlink is being targeted

Chainlink has gained attention among institutional investors because of its role in connecting traditional financial systems with blockchain applications. By turning the existing trust into an ETF, Grayscale aims to provide exposure to movements in LINK’s spot price while also enabling staking rewards to flow through to the fund.

The structure removes the need for corporate and institutional investors to manage crypto wallets or token custody. Exposure can instead be accessed through standard brokerage accounts.

Competitive filings already underway

While Grayscale appears first in line for a Chainlink ETF, Bitwise has also submitted an application for a competing product. Approval decisions could determine which issuer secures the early inflow advantage at a time when altcoin-focused ETFs are experiencing strong demand.

If the ETF launches this week as expected, LINK will join Solana, XRP and Dogecoin in the group of altcoins now trading through regulated U.S. exchange-traded products. The development would represent another step in the rapid expansion of crypto ETF offerings beyond Bitcoin.

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