Bitwise Files for First-Ever Chainlink ETF in the U.S.

By Marco Piccolo

Bitwise Asset Management has taken a significant step toward expanding crypto investment vehicles by filing for a spot Chainlink (LINK) ETF with the U.S. SEC. If approved, this would mark the first U.S.-based ETF offering direct exposure to Chainlink, a decentralized oracle network integral to decentralized finance and blockchain interoperability.

Passive exposure to Chainlink’s spot market

According to the preliminary S-1 filing dated August 26, the “Bitwise Chainlink ETF” is structured as a Delaware statutory trust. The ETF’s shares are designed to reflect the market value of LINK, Chainlink’s native token, after accounting for expenses and fees.

Bitwise just filed for a spot Chainlink ETF pic.twitter.com/jRHPXEP9a7

— Eric Balchunas (@EricBalchunas) August 26, 2025

The trust will be passively managed, meaning there will be no active trading or hedging strategies, and no staking of LINK tokens despite recent SEC clarifications that such practices do not violate securities laws.

The ETF will not pursue yield-enhancement strategies, as the filing emphasizes a straightforward approach: “The Sponsor does not actively manage the Chainlink held by the Trust.” This means that the trust will not attempt to capitalize on market timing or price volatility.

Structure, custody, and pricing benchmark

Coinbase Custody Trust Company, LLC has been selected as the custodian for the underlying LINK tokens. Coinbase, Inc. will serve as the ETF’s prime execution agent. The ETF’s Net Asset Value (NAV) will be based on the CME CF Chainlink–Dollar Reference Rate (New York Variant), a benchmark maintained by CF Benchmarks Ltd. Shares will be issued and redeemed in blocks of 10,000, with flexibility for transactions in either LINK or U.S. dollars.

Though the exact exchange and ticker symbol have not yet been disclosed, Bitwise anticipates listing the fund on a national securities exchange.

Chainlink’s growing institutional appeal

Chainlink has become a vital component of blockchain infrastructure by providing off-chain data, such as asset prices and interest rates, to smart contracts across networks like Ethereum. Its LINK token, currently the 11th-largest digital asset by market capitalization, compensates node operators and facilitates governance within the network.

In recent years, Chainlink has expanded beyond the crypto ecosystem through collaborations with traditional finance heavyweights such as Swift, Visa, Mastercard, and JPMorgan.

The project has also launched the Chainlink reserve, which captures revenues generated by the network and converts them into LINK. The reserve is designed to hold the tokens over the long term.

We’re excited to announce the launch of the Chainlink Reserve, a new upgrade centered on the creation of a strategic onchain reserve of LINK tokens.https://t.co/ENs52Qjnn2

The Chainlink Reserve is designed to support the long-term growth and sustainability of the Chainlink… pic.twitter.com/vUElyovvYs

— Chainlink (@chainlink) August 7, 2025

Bitwise’s move aligns with a broader industry trend toward diversifying single-asset crypto ETFs beyond Bitcoin and Ethereum. Earlier this week, Grayscale filed to convert its Avalanche Trust into a spot AVAX ETF, further signaling Wall Street’s growing interest in DeFi-enabling assets.

If approved, the Bitwise Chainlink ETF would provide both retail and institutional investors with a regulated gateway to participate in the Chainlink ecosystem without the need to manage digital wallets or custody tokens directly.

Source:: Bitwise Files for First-Ever Chainlink ETF in the U.S.