Grayscale Bridges Traditional Finance and Crypto with Chainlink ETF Push

Grayscale has taken a significant step toward expanding its lineup of crypto-based investment products by filing with the U.S. Securities and Exchange Commission (SEC) to restructure its existing Grayscale Chainlink Trust into a spot exchange-traded fund (ETF). The proposed ETF, if approved, would trade under the ticker symbol GLNK on NYSE Arca and would mirror the price of the Chainlink (LINK) token, offering investors a regulated vehicle to access the asset's performance [1]. The filing includes an S-1 registration statement, one of the two required documents for an ETF application to be considered complete [1].

The proposed GLNK ETF would operate similarly to recently approved spot ETFs for bitcoin and ethereum, with Grayscale indicating that the fund would allow for cash-based share creations and redemptions [1]. It also retains the flexibility to adopt in-kind redemptions should regulatory guidance in the future permit such a structure. Grayscale’s filing further outlines the possibility of incorporating a staking mechanism, where the fund could generate staking rewards by using third-party staking providers while maintaining custody of the assets [1]. These rewards may be retained by the fund, distributed to shareholders, or sold to cover expenses, pending regulatory clarity.

The Grayscale Chainlink Trust, which will serve as the foundation for the new ETF, has been in operation since February 2026 and currently holds nearly $29 million in assets [1]. The custodian for the fund will be the Coinbase Custody Trust Company. This move is part of a broader strategy by Grayscale to convert several of its single-asset crypto trusts into ETFs. Other pending applications include ETFs for solana (SOL), dogecoin (DOGE), and XRP [1]. However, the SEC has yet to approve or deny any of these applications under current chair Paul Atkins.

The proposed ETF, if approved, would offer traditional investors an accessible and compliant way to gain exposure to Chainlink, which provides decentralized data feeds for blockchain applications and smart contracts. The addition of staking functionality could differentiate the fund from most U.S. crypto ETFs by introducing an income component. According to CoinDesk, the market has already responded positively to the filing, with the LINK token rising by 3% in the 24 hours following the announcement [1].

Grayscale has previously demonstrated its ability to navigate regulatory challenges, most notably in its 2023 legal victory over the SEC regarding its efforts to create a spot bitcoin ETF. With its ongoing push to bring regulated investment products to the U.S. market, the firm is positioning itself as a leading bridge between traditional finance and the growing crypto asset class. As of now, no public market exists for the proposed ETF shares, and Grayscale has not yet set a price or launch date [2].

Source:

[1] Chainlink Jumps as Grayscale Files for First-Ever U.S. Chainlink ETF (https://www.coindesk.com/markets/2025/09/08/chainlink-jumps-as-grayscale-files-for-first-ever-u-s-chainlink-etf)

[2] Grayscale Files to Create ETF for LINK Digital Assets (https://www.pymnts.com/blockchain/2025/grayscale-files-to-create-etf-for-link-digital-assets/)