Bitwise Submits Application for First Chainlink Spot ETF in the U.S.
- Bitwise has filed with the SEC to register a Chainlink Spot ETF, the first of its kind in the U.S.
- The ETF will provide direct exposure to Chainlink (LINK) by investing directly in the asset.
- Coinbase Custody Trust Company will act as custodian, with share issuance and redemption conducted in cash.
- Following the announcement, LINK’s price rose by 2.3% on Binance within a day.
This filing represents a significant step towards mainstream acceptance of cryptocurrencies as financial products, highlighting investor interest and confidence in digital assets like Chainlink. The move also aligns with ongoing efforts from other firms, such as Grayscale Investments, to explore similar products within altcoin markets.
The launch of this ETF could enhance liquidity and security for investors engaging with cryptocurrencies, as evidenced by LINK’s price increase of over two percent following the news.
