Bitcoin News Today: Grayscale Seeks to Bring Staking Rewards to Regulated Crypto Investing

Grayscale has submitted a formal application to the U.S. Securities and Exchange Commission (SEC) to convert its existing Chainlink Trust into a spot exchange-traded fund (ETF). The proposed ETF, if approved, would trade under the ticker GLNK on NYSE Arca, according to a recently filed S-1 registration statement. This filing is among the documents required to officially initiate the ETF application process [1]. The Grayscale Chainlink Trust, which has been in operation since February 2026, currently holds $29 million in assets [2]. The new ETF would enable cash-based share creation and redemption, similar to the structures used by recently approved spot Bitcoin and Ethereum ETFs. The filing also retains the possibility of in-kind redemptions, contingent on future regulatory changes [3].

The Grayscale filing highlights a potential inclusion of a staking feature, which would allow the fund to earn staking rewards from third-party staking providers while maintaining custody of the underlying LINK tokens. These rewards could be retained by the fund, distributed to shareholders, or sold to cover operational expenses, depending on regulatory guidance [4]. Such a mechanism is notable, as it could offer an income component to investors—an aspect not yet widely available in most U.S. crypto ETFs.

The move aligns with Grayscale’s broader strategy to expand its lineup of crypto ETFs beyond Bitcoin and Ethereum, targeting altcoins such as Solana (SOL), Dogecoin (DOGE), and XRP. This initiative reflects growing institutional and retail investor interest in diversified crypto exposure. The filing for the Chainlink ETF coincides with a 3% rise in the price of LINK over the past 24 hours, outperforming other altcoins such as XRP, which gained 2.6%, and Solana, which rose by 5%. This upward trend is part of a broader rally in the altcoin market [5].

The proposed GLNK ETF, if approved, would provide regulated access to Chainlink’s price performance. Chainlink is a decentralized oracle network that facilitates the integration of blockchain applications with external data sources, making it a critical infrastructure component for smart contracts and decentralized finance (DeFi). The LINK token plays a central role in securing the network and compensating node operators [6]. Grayscale’s move is seen as a step toward legitimizing alternative cryptocurrencies within traditional financial markets.

The regulatory environment for crypto ETFs is evolving. While the SEC under Chair Paul Atkins has not yet approved or denied Grayscale’s pending applications, the firm continues to submit proposals for products it believes could pioneer new categories within the U.S. market. Competitors such as Bitwise have also filed for Chainlink ETFs, indicating increasing institutional demand for the token [7]. Industry analysts suggest that these filings signal a new era in crypto investing, where traditional investors are seeking exposure to the underlying infrastructure of decentralized applications and blockchain ecosystems [8].

Meanwhile, technical indicators suggest a bullish outlook for Chainlink. The price of LINK has broken out of a falling wedge pattern on the 4-hour chart, suggesting a potential 18% increase toward $26.75. Rising open interest in futures markets also points to increasing retail and institutional interest. Market analysts attribute this momentum to both the ETF filing and broader optimism about the token’s role in the DeFi and blockchain landscape [9]. The market’s positive reaction underscores the potential for regulatory clarity to drive adoption and value creation in the crypto space.

Source:

[1] Chainlink (LINK) News: Higher on Grayscale ETF Filing (https://www.coindesk.com/markets/2025/09/08/chainlink-jumps-as-grayscale-files-for-first-ever-u-s-chainlink-etf)

[2] Grayscale Files for What Could Be First-Ever U.S. Chainlink ETF (https://finance.yahoo.com/news/grayscale-files-could-first-ever-142738823.html)

[3] Grayscale expands altcoin push with SEC, filing for... (https://www.mitrade.com/au/insights/news/live-news/article-3-1105339-20250908)

[4] Chainlink Price Forecast: LINK eyes 18% breakout after... (https://www.mitrade.com/au/insights/news/live-news/article-3-1104923-20250908)

[5] Cryptocurrencies Price Prediction: Chainlink, Bitcoin &... (https://www.fxstreet.com/cryptocurrencies/news/cryptocurrencies-price-prediction-chainlink-bitcoin-solana-european-wrap-8-september-202509081234)