Grayscale Investments has officially filed with the U.S. Securities and Exchange Commission (SEC) to convert its Chainlink Trust into a spot ETF, expected to trade on NYSE Arca under the ticker GLNK. If approved, the move could open the door for greater institutional exposure to Chainlink (LINK) while boosting market liquidity.
What is Grayscale’s Chainlink ETF?
According to the filing, Grayscale aims to convert Chainlink Trust into a spot ETF that would provide regulated and transparent access for financial institutions looking to invest in LINK. The fund would use Coinbase Custody as custodian and BNY Mellon as administrator.
Converting the trust into an ETF could make LINK more accessible through traditional brokerage and retirement platforms. At the time of filing, Chainlink’s market capitalization stood at approximately $15.6 billion, while the token price jumped nearly 3% following the announcement, reflecting immediate investor interest.
Staking – A Potential Highlight
One notable detail in the filing is the possibility of allowing LINK staking to generate additional yield for investors, subject to regulatory and tax guidance. If approved, this would mark a breakthrough step, enabling the ETF not only to track asset value but also to deliver passive income through staking rewards.
The launch timeline depends on SEC review and approval. Grayscale has successfully converted other products into ETFs in the past after a review cycle, but no official date has been set. Investors should closely monitor SEC filings and Grayscale announcements for the latest updates.
