Grayscale Files to Convert Chainlink Trust Into Potential U.S. ETF
Grayscale has filed with the U.S. Securities and Exchange Commission (SEC) to transform its existing Chainlink Trust into a spot exchange-traded fund (ETF), potentially trading on NYSE Arca under the ticker GLNK. The S-1 filing is a key step in making the ETF application official.
If approved, the ETF could feature a staking component, allowing the fund to earn rewards through third-party providers while holding LINK tokens in custodian wallets. Staking returns could be retained by the fund, distributed to shareholders, or sold to cover expenses, depending on regulatory guidance.
The proposal converts the Grayscale Chainlink Trust, which has managed nearly $29 million in assets since its launch in February 2026, into a fully regulated ETF. Coinbase Custody Trust Company would continue as custodian. The ETF would primarily process share creations and redemptions in cash, similar to recently approved spot Bitcoin and Ethereum ETFs, though in-kind redemptions may be allowed if future regulations permit.
Chainlink’s LINK token has gained 3% in the past 24 hours, alongside a broader altcoin rally that saw XRP rise 2.6%, Solana 5%, and Dogecoin 7.4%.
This filing is part of Grayscale’s larger strategy to convert multiple single-asset crypto trusts into ETFs, with other proposals including funds tied to SOL, DOGE, and XRP. The SEC, under Chair Paul Atkins, has yet to approve any of these applications, but firms are preparing for what could be first-in-class crypto ETFs in the U.S.
If launched, the GLNK ETF would give traditional investors regulated exposure to Chainlink, the decentralized oracle network powering smart contracts, while staking could provide an additional yield component not currently offered by most U.S. crypto ETFs.
Market reaction has been positive, with LINK posting one of the day’s strongest gains among major cryptocurrencies.
