Key Takeaways:
- Bitwise filed the first U.S. ETF application for Chainlink (LINK), aiming to allow direct in-kind transactions using LINK tokens.
- The proposed Bitwise Chainlink ETF will use Coinbase Custody and still awaits SEC approval and additional filings.
- LINK rose 4.2% following the news, amid growing interest in altcoin-focused ETFs across the market.
Bitwise Asset Management has become the first firm in the U.S. to file for a spot Chainlink exchange-traded fund (ETF), signaling a growing push for altcoin-based investment products.
The proposed Bitwise Chainlink ETF, revealed in a Form S-1 filing with the U.S. Securities and Exchange Commission (SEC), would directly hold Chainlink’s native token, LINK, with Coinbase Custody serving as custodian.
BREAKING: 🇺🇸 BITWISE HAS JUST FILED AN S-1 FOR CHAINLINK SLINK ETF.
— Ash Crypto (@ash_cryptorre) August 26, 2025
ALTSEASON IS CONFIRMED IN Q4 pic.twitter.com/ruze05UFlF
The fund also plans to enable in-kind creation and redemption, letting investors transact ETF shares using LINK tokens.
While Bitwise has yet to disclose details such as ticker, listing exchange, or fees, this marks the first U.S. ETF filing dedicated to Chainlink.
LINK’s price reacted positively, rising 4.2% in 24 hours to $24.18, though it remains far below its $53 all-time high in 2021.
The filing reflects rising interest in crypto ETFs beyond Bitcoin and Ether, where Bitwise already manages billions in assets.
Other issuers are also entering the market, with VanEck seeking approval for a JitoSOL staking ETF, Grayscale pursuing an Avalanche ETF, and Canary Capital proposing funds tied to the Trump token and a U.S.-originated cryptocurrencies ETF (MRCA).
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