Grayscale Files for Chainlink Spot ETF: Key Details You Should Know
In a significant move for the cryptocurrency sector, Grayscale Investments has filed with the U.S. Securities and Exchange Commission (SEC) to convert its Chainlink Trust into a spot Chainlink Exchange-Traded Fund (ETF). The proposed fund aims to trade on NYSE Arca under the ticker symbol ‘GLNK’ and seeks to capitalize on the increasing institutional interest in decentralised oracle networks like Chainlink (LINK).
Why This Stands Out
This isn’t just another crypto ETF filing. What sets Grayscale’s application apart is its inclusion of a staking feature for LINK tokens, a rarity in the ETF space. If approved, the ETF could stake portions of its Chainlink holdings, subject to regulatory and tax consent. Staking rewards could be retained, sold, or even distributed to shareholders—a feature highlighting Chainlink’s innovative role in decentralised data infrastructure.
The Broader Implications
Grayscale isn’t stopping at Chainlink. The firm has already filed applications for altcoin ETFs tied to Avalanche (AVAX), Solana (SOL), Dogecoin (DOGE), and other emerging blockchain assets. This reflects a growing push to diversify institutional-grade crypto products beyond Bitcoin and Ethereum. Bitwise, VanEck, 21Shares, and Franklin Templeton have joined the race for altcoin ETFs, signaling heightened competition in the market.
Technical Outlook for LINK
Following Grayscale’s announcement, Chainlink’s price ticked upward to reclaim the $23.00 mark, showing a 2% daily gain and igniting positive sentiment. LINK’s market capitalization now sits at $15.6 billion, placing it as the 13th largest digital asset globally, with daily trading volume hovering above $870 million.
The token appears to be trading within a multi-year symmetrical triangle pattern, signaling potential for significant price movement. Key resistance levels are seen at the $25–$27 range, with $31 acting as the pivot zone for further upward rallies. Analysts forecast a potential breakout above $31 could pave the way for LINK to retest its all-time high of $52, with long-term targets speculated to reach $100.
What This Means for Investors
Grayscale’s push for a Chainlink ETF underscores the growing confidence in blockchain-based infrastructure assets. With potential added staking capabilities, this innovation could open up new revenue streams for long-term investors. For those new to crypto, platforms like Coinbase offer beginner-friendly options to purchase LINK and other cryptocurrencies.
Additionally, investors should stay informed about broader ETF movements. Grayscale’s filing reflects a favorable regulatory environment under the current U.S. administration. Analysts are optimistic about approvals extending beyond Bitcoin and Ethereum ETFs, which could further stabilize and legitimize the altcoin ecosystem.
Final Thoughts
The cryptocurrency market is proving to be more than just Bitcoin and Ethereum, and Grayscale’s Chainlink ETF filing symbolizes a step toward mainstream adoption of altcoin-based financial products. Keep an eye on this space—2025 might be the year that shifts the landscape of institutional crypto investment.
