The U.S. Securities and Exchange Commission has approved the listing of the Bitwise spot Chainlink ETF ($CLNK) on NYSE Arca, marking another milestone in the expansion of regulated cryptocurrency investment products in the United States.
The ETF is expected to begin trading later this week, according to the approval details.
Market Reaction
Following news of the approval, the price of Chainlink’s native token, LINK, rose more than 11% over the past week, trading near $13.86. The move reflects renewed investor interest tied to increased institutional accessibility.
Fund Structure and Custody
The ETF will hold LINK tokens directly, providing spot exposure rather than relying on derivatives or synthetic instruments. Coinbase Custody will safeguard the digital assets, while BNY will handle cash custody.
Fee Waiver to Drive Early Adoption
To encourage early inflows, Bitwise will offer a full management fee waiver for the first three months, applicable to up to $500 million in assets under management. After the waiver period expires, the ETF’s management fee will be set at 0.34%.
Staking Listed as Secondary Objective
While staking will not be active at launch, the fund lists staking of LINK holdings as a secondary objective, leaving open the possibility of introducing staking rewards at a later stage, subject to operational and regulatory considerations.
Broader Market Implications
The approval is widely viewed as a significant development for regulated crypto products beyond Bitcoin and Ethereum, potentially opening the door to greater institutional participation across the broader altcoin market.
With the Chainlink ETF set to trade imminently, attention is now shifting to whether similar spot products tied to other major digital assets may follow.
