Grayscale has filed an S-1 registration statement with the Securities and Exchange Commission in a bid to manage what could be one of the first spot Chainlink exchange-traded funds in the United States — including a potential staking component.
The proposed fund — a conversion from Grayscale’s existing Chainlink Trust product — seeks to offer direct exposure to the price of LINK, the cryptocurrency associated with Chainlink’s decentralized oracle platform. Coinbase Custody Trust Company would serve as the custodian for the fund, which would be listed on NYSE Arca under the ticker GLNK if approved, according to the filing.
The Grayscale Chainlink Trust ETF may stake a portion of its LINK assets if particular tax and regulatory conditions are met, potentially generating additional yield for investors. If permitted, staking would use third-party providers while assets remain in custodian wallets, with rewards retained, sold, or distributed.
The ETF also intends to process share creations and redemptions in cash rather than in-kind — mirroring the structure used by existing spot Bitcoin and Ethereum ETFs in the U.S. However, it could support in-kind redemptions if given the regulatory approval to do so in the future.
Chainlink is a decentralized oracle network that connects blockchains with real-world data, enabling smart contracts to access information like asset prices or other external events securely. LINK is used to pay node operators for providing reliable data and to secure the network through staking.
Last month, Chainlink launched a strategic LINK reserve, funded via onchain and offchain revenue, designed to support the long-term growth and sustainability of the network.
Grayscale ramps up spot crypto ETF filings
Grayscale has also filed for crypto ETFs tied to Avalanche and Dogecoin in recent weeks, adding to previous filings for Litecoin, Solana, and XRP spot products. Grayscale’s Bitcoin and Ethereum Trusts were converted into spot ETFs following SEC approval in 2024.
Other asset managers, such as 21Shares, Bitwise, Canary Capital, Franklin Templeton, REX Shares, and VanEck, are also seeking the SEC’s green light for several spot crypto ETFs, including products focused on Avalanche, Cardano, Dogecoin, Hedera, Litecoin, Polkadot, Solana, and XRP. Bitwise also filed to launch a spot Chainlink ETF last month.
The flurry comes amid a new era for the agency under the pro-crypto Trump administration, with expectations that it will offer a friendlier ear than in the previous Biden era.
LINK is trading up around 5% on Monday at $23.14, according to The Block’s LINK price page.
LINK/USD. Image: The Block/TradingView.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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