Grayscale Seeks to Convert Chainlink Trust into ETF on NYSE Arca
- Grayscale Investments filed with the SEC on Sept. 5 to convert its $28.7 million Chainlink Trust into an ETF.
- The proposed ETF would trade under the ticker GLNK on NYSE Arca, offering regulated access to Chainlink’s price performance.
- Grayscale plans for the ETF to allow staking of some tokens while using a cash-based creation and redemption model.
- CSC Delaware Trust Company will act as trustee, and Coinbase will provide prime brokerage and custody services.
- This application is part of Grayscale’s broader effort to expand investor access beyond Bitcoin and Ethereum, including assets like Solana and XRP.
The filing highlights Grayscale’s strategy to reduce custody risks for investors while providing exposure through traditional markets via an ETF structure. Approval from the SEC is required before launching the ETF, which may include updates to listing rules for in-kind transactions.
If approved, this move could significantly enhance access to Chainlink investments, reflecting growing institutional interest in altcoins beyond Bitcoin and Ethereum.(Source)
