First U.S. Chainlink ETF in the Works? Grayscale Files Proposal

Grayscale Files to Launch First U.S. Chainlink ETF

Grayscale has filed with the U.S. Securities and Exchange Commission (SEC) to convert its existing Chainlink Trust into a spot exchange-traded fund (ETF), potentially trading on NYSE Arca under the ticker GLNK. The filing, submitted Monday, is one of two documents required to formally initiate an ETF application.

If approved, the ETF could feature a staking mechanism, allowing LINK tokens to generate rewards through third-party providers. Depending on future regulatory guidance, staking rewards could be retained by the fund, distributed to shareholders, or sold to cover expenses.

The ETF would replace the Grayscale Chainlink Trust, which has managed nearly $29 million in assets since its launch in February 2026. Coinbase Custody Trust Company would continue as custodian. Shares are expected to be created and redeemed primarily in cash, consistent with recent U.S. spot Bitcoin and Ethereum ETFs, with in-kind redemptions possible if future rules allow.

Chainlink’s LINK token has gained 3% in the past 24 hours, joining a broader altcoin rally that saw XRP (+2.6%), Solana (+5%), and Dogecoin (+7.4%) advance.

Grayscale’s move is part of a broader initiative to convert its single-asset crypto trusts into ETFs, including funds linked to SOL, DOGE, and XRP. While the SEC under Chair Paul Atkins has not yet ruled on these applications, Grayscale is positioning to bring some of the first U.S. ETFs tied to individual cryptocurrencies to market.

If launched, the GLNK ETF would provide investors with regulated exposure to Chainlink, the decentralized oracle network powering smart contracts and blockchain data feeds. The staking option could also introduce an income component, a feature largely absent from existing U.S. crypto ETFs.

Market reaction has been positive, with LINK among the day’s top-performing altcoins.