XRP News Today: Regulators Greenlight New Era as Chainlink ETF Shakes Up Altcoin Access

Bitwise has submitted a formal S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) to launch the first U.S. spot-based ETF focused on Chainlink’s native token, LINK. This filing, dated August 26, 2025, aims to give investors direct exposure to LINK by investing directly in the token, rather than through futures or derivatives. The proposed ETF will be custodied by Coinbase Custody Trust Company, aligning with a common structure used by major crypto ETFs such as BlackRock’s iShares Bitcoin Trust and iShares Ethereum Trust. The ETF is structured for in-kind creation and redemption, a mechanism the SEC recently permitted for crypto ETFs, allowing investors to exchange shares for actual tokens and vice versa [1].

Chainlink’s price responded positively to the announcement, rising approximately 4–5% from overnight lows shortly after the filing became public. However, the token remained under bearish pressure in the broader market. According to CoinDesk data, LINK traded at around $24.27 at the time of reporting, down 1.1% from the prior day. Technical indicators, including a 24-hour price drop of 4.67%, pointed to continued downward momentum. The token’s 24-hour trading range was $1.84, with strong resistance identified near $24.30 and support near $23.00. A recovery attempt between 10:00–11:00 UTC brought the price to $23.54, a modest rebound driven by increased trading volume of 3.35 million units [1].

The filing is part of a broader trend in which asset managers are increasingly seeking to launch spot ETFs for altcoins, capitalizing on a more favorable regulatory environment under the Trump administration. Bitwise has already filed for ETFs tracking Solana, XRP, Dogecoin, and Aptos, with its Bitcoin and Ethereum ETFs already generating over $2.6 billion in combined net inflows. The filing for the Chainlink ETF suggests growing institutional and retail appetite for exposure to altcoins through regulated investment vehicles [2].

Simultaneously, other firms such as Grayscale, Canary, CoinShares, and WisdomTree have submitted updated proposals for spot XRP ETFs, indicating a competitive landscape as the industry pushes for regulatory clarity. These updated filings reportedly reflect adjustments to structures based on SEC feedback, including the inclusion of XRP or cash for creations and both cash and in-kind redemptions. Despite these developments, BlackRock has not joined the XRP ETF race, choosing to focus on its successful Bitcoin and Ethereum products [3].

In the broader context of SBI Holdings, the relationship between Ripple and Chainlink has been framed by some as a potential rivalry. However, industry legal expert Bill Morgan has clarified that SBI is leveraging both projects for distinct purposes. Ripple supports SBI’s payment infrastructure, enabling faster and cheaper cross-border transactions using XRP, while Chainlink enhances tokenization efforts through tools like Proof of Reserve and SmartData. These partnerships highlight a modular financial architecture where Ripple and Chainlink serve complementary roles rather than competing for dominance [4].

Chainlink’s recent partnership with SBI is primarily focused on institutional infrastructure, including tokenized real-world assets and regulated stablecoins. Unlike Ripple, which provides liquidity and settlement mechanisms, Chainlink acts as an orchestrator of data and cross-chain messaging. According to industry analysts, this distinction ensures that both technologies can coexist and even enhance each other’s capabilities within SBI’s broader financial ecosystem [5].

The Bitwise filing for a Chainlink ETF underscores the ongoing evolution of the crypto market, where institutional-grade products are increasingly becoming a reality. With the SEC’s recent regulatory developments, including the approval of in-kind creation and redemption mechanisms, the stage is set for more innovative crypto-based investment vehicles to emerge. The outcome of the Chainlink ETF filing will likely serve as an important indicator of how regulators view altcoin-based products and could influence future filings from other asset managers [6].

Source:

[1] Chainlink Price News: 5% Bounce on Spot LINK ETF Filing (https://www.coindesk.com/markets/2025/08/26/bitwise-files-to-launch-a-spot-chainlink-etf-link-bounces-5)

[2] Bitwise Files for Chainlink ETF With In-Kind Creation and (https://finance.yahoo.com/news/bitwise-files-chainlink-etf-kind-165536862.html)

[3] Grayscale, Bitwise Among Firms Updating Filings for Spot (https://finance.yahoo.com/news/grayscale-bitwise-among-firms-updating-100048703.html)

[4] Ripple vs Chainlink in SBI Holdings: Bill Morgan Explains Why They’re Not Rivals (https://coinpedia.org/news/ripple-vs-chainlink-in-sbi-holdings-bill-morgan-explains-why-theyre-not-rivals/)

[5] Is Chainlink Replacing XRP In SBI's Strategy? Pundit Explains Why Not (https://bitcoinist.com/chainlink-replacing-xrp-sbi-strategy-pundit/)

[6] Bitwise Files for First U.S. Spot Chainlink ETF (https://coinpaper.com/10732/is-chainlink-about-to-go-mainstream-bitwise-files-for-first-u-s-spot-etf)