XRP News Today:

Grayscale has submitted an S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) to convert its existing Chainlink Trust into a spot exchange-traded fund (ETF) [1]. The proposed fund, if approved, would trade under the ticker symbol GLNK on NYSE Arca and offer direct exposure to the price of LINK, the native token of the Chainlink decentralized oracle platform [1]. This move aligns with Grayscale’s broader strategy to transition its existing single-asset crypto trusts into ETF structures, following the successful conversion of its Bitcoin and Ethereum Trusts into spot ETFs in 2024 [1].

The ETF filing includes a potential staking component, which could generate additional yield for investors provided regulatory and tax conditions are met [1]. Staking would be conducted through third-party providers, while the underlying LINK tokens remain in custodian wallets. Rewards from staking could be retained, sold, or distributed to shareholders depending on future guidance [2]. Coinbase Custody Trust Company is set to act as the custodian for the fund, ensuring security and regulatory compliance [1].

Grayscale’s Chainlink Trust has been in operation since February 2026 and currently manages approximately $29 million in assets [2]. The proposed ETF will process share creations and redemptions in cash, mirroring the structure of the approved Bitcoin and Ethereum ETFs [1]. However, the filing also allows for the possibility of in-kind redemptions if future regulations permit, reflecting a flexible approach to operational design [2].

The filing coincides with a broader wave of ETF applications from other asset managers, including 21Shares, Bitwise, Canary Capital, Franklin Templeton, REX Shares, and VanEck, targeting assets such as Avalanche, Cardano, Dogecoin, Hedera, Litecoin, Polkadot, Solana, and XRP [1]. Bitwise has also filed for a spot Chainlink ETF, underscoring the increasing interest in regulated access to altcoins [2]. Meanwhile, Grayscale has concurrently submitted applications for ETFs tied to Avalanche, Dogecoin, Litecoin, Solana, and XRP, expanding its product offerings across the crypto ecosystem [1].

Chainlink, which operates a decentralized oracle network, plays a critical role in connecting blockchain systems with real-world data, enabling smart contracts to access external information securely [1]. Recently, Chainlink launched a strategic LINK reserve funded through on-chain and off-chain revenue to support long-term network sustainability [1]. The potential approval of a Grayscale Chainlink ETF could offer traditional investors a regulated avenue to gain exposure to the token’s price performance, potentially enhancing the token’s liquidity and institutional appeal [2].

In response to the filing, the LINK token has seen a notable price increase, rising approximately 5% as of the filing date and 3% over the past 24 hours [1]. The broader altcoin market has also experienced a rally, with tokens like XRP, Solana, and Dogecoin posting gains in recent days [2]. Market optimism suggests growing confidence in the potential regulatory environment under the new SEC leadership and a more favorable outlook for the crypto sector under the Trump administration [2].

Source:

[1] Grayscale seeks SEC approval to launch spot Chainlink ETF in the U.S. (https://www.theblock.co/post/369788/grayscale-seeks-sec-approval-to-launch-spot-chainlink-etf-in-the-us)

[2] 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)