Grayscale Set to Debut First U.S. Spot Chainlink ETF

Grayscale Investments is preparing to launch the United States’ first spot Chainlink (LINK) exchange-traded fund this week. This is a significant step towards expanding the crypto-based ETFs across the U.S. markets. The development was first highlighted by the ETF Institute co-founder, Nate Geraci. Grayscale will convert its existing Chainlink Trust (established in 2020) into a fully tradable ETF.

Nate Geraci posted on X.com, “Set to launch this week… First spot link ETF. Grayscale will be able to uplist/convert Chainlink private trust to ETF.” His statement confirmed the expectations that the conversion would allow the firm to uplist its LINK trust into a spot ETF. The move positions Grayscale ahead of rival crypto asset manager Bitwise, which is also preparing a competing ETF expected to follow closely behind. 

Chainlink Ready for a US ETF Debut

The timeline aligns with the forecasts from Bloomberg Intelligence. Eric Balchunas, the senior ETF analyst, projected a December 2 debut for the Chainlink ETF. He noted that the launch fits within a broader surge of spot crypto products entering the market. According to him, “There are 5 spot crypto ETFs launching over next 6 days. Beyond that we don’t have exact but we expect a steady supply of them (likely over 100 in next six months).” However, all of this is conditional on regulatory conditions continuing to evolve. 

Like several of Grayscale’s previous products, the Chainlink ETF will operate through a trust conversion process, maintaining continuity with the product first introduced in late 2020. The ETF is designed to track the spot price of LINK and the returns from staking activities. This is an additional yield component that has become increasingly relevant as staking grows across the major blockchain ecosystems. 

Grayscale has long expressed optimism about Chainlink’s role in the broader digital asset landscape. In a recent research report, the firm described the Chainlink network as “critical connective tissue” that bridges blockchain-based systems with traditional finance infrastructure, underscoring the project’s importance in enabling real-world data flows for smart contracts. 

The surge in new crypto ETF approvals follows significant changes in SEC leadership this year, which have opened the door to a wide variety of digital asset products. ETFs tied to XRP, Solana (SOL), and Dogecoin (DOGE) have all received approval, expanding options for both retail and institutional investors. Just last month, Grayscale rolled out spot ETFs for XRP and DOGE, signaling its continued push to broaden crypto exposure in mainstream financial markets.