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Bitwise Asset Management filed to launch an exchange-traded fund that holds and tracks the self-titled native token of the crypto oracle platform Chainlink.<\/p>\n
A filing<\/a> with the US Securities and Exchange Commission on Tuesday shows the fund would trade as the Bitwise Chainlink ETF, with Coinbase Custody named as the custodian for the fund.\u00a0<\/p>\n The ETF plans to hold and offer in-kind creation and redemption for Chainlink (LINK), allowing investors to buy and sell shares using the LINK token.<\/p>\n Bitwise did not disclose the ticker symbol, the exchange its ETF will be listed on or what fee it would charge.<\/p>\n It\u2019s the first time an ETF tracking Chainlink has been filed for in the US. Bitwise submitted a Form S-1 for the fund, but must submit further paperwork, called a Form 19b-4, to kick off the SEC\u2019s approval process.\u00a0<\/p>\n The price of LINK was up 4.2% to $24.18 in the last 24 hours amid Bitwise\u2019s filing and a wider market gain, according<\/a> to CoinGecko.<\/p>\n LINK has gained more than 26% in the past 30 days, but is still over halfway down from its peak of nearly $53 in May 2021.\u00a0<\/p>\n The Trump administration has taken a friendlier tone toward crypto, leading fund issuers to flood the SEC with filings for a variety of crypto-linked ETFs.<\/p>\n Bitwise has seen success with its ETFs tracking Bitcoin (BTC) and Ether (ETH), which have respective assets under management of $2.26 billion<\/a> and $460 million<\/a>, according to Farside Investors.<\/p>\n On Saturday, asset manager VanEck filed with the SEC to offer an ETF based on JitoSOL, a liquid staking token that provides staking rewards<\/a>. If approved, this would be the first ETF in the US to offer investors the ability to invest in digital assets that provide staking rewards.<\/p>\n Related:\u00a0 <\/strong><\/em>ETF analyst questions how Canary\u2019s TRUMP fund \u2018gets through\u2019\u00a0<\/strong><\/em><\/a><\/p>\n On Friday, Grayscale Investments sought the SEC\u2019s approval to convert<\/a> its existing trust based on Avalanche (AVAX) into an ETF.<\/p>\n Meanwhile, Canary Capital has filed two ETF product offerings this month, with its filing on Tuesday<\/a> looking to launch an ETF that holds Official Trump (TRUMP), which US President Donald Trump launched days before his inauguration.<\/p>\n Its second ETF filing made on Friday was for the Canary American-Made Crypto ETF (MRCA), which would offer exposure to a basket of cryptocurrencies<\/a> that were created, mined or operate in the US.<\/p>\nLINK gains on ETF filing<\/h2>\n
Focus on altcoin ETFs grows<\/h2>\n