Haciyev Reşit 
One of the leading U.S.-based digital asset management firms, Bitwise, has once again made headlines with the introduction of two new spot cryptocurrency exchange-traded funds (ETFs). The Depository Trust and Clearing Corporation (DTCC) has officially added Bitwise’s Dogecoin ETF under the ticker “BWOW” and Chainlink ETF under “CLNK” to its listings.
DTCC Listing: A Positive Signal Before Market Launch
While a DTCC listing does not equate to final approval for trading on U.S. markets, it is widely considered one of the final steps before a product’s launch. Institutional investors now see these listings as being in the “active and pre-launch” category, raising strong expectations that the Bitwise Chainlink ETF could debut soon after SEC approval.
Bitwise had submitted its S-1 filing for the Chainlink ETF to the U.S. Securities and Exchange Commission (SEC) in August 2025, marking the first-ever Chainlink-based spot ETF in the United States. In September, Grayscale followed suit with a similar filing, positioning itself as a direct competitor. Unlike Grayscale’s version, Bitwise’s ETF does not include a staking feature, whereas Grayscale’s proposal aims to stake part of its LINK holdings to provide investors with additional yield potential.
What Is Chainlink (LINK) and Why Is It Important?
Chainlink is a decentralized oracle network that connects blockchain systems with real-world data. This technology allows smart contracts to securely access external information such as asset prices, economic data, and real-world events. The LINK token powers the network, being used for staking and compensating node operators, thereby ensuring data integrity and network security.
According to market data, LINK is currently trading at $15.43, marking a 6.55% decline in the last 24 hours. Analysts suggest that if the ETF receives SEC approval, it could significantly accelerate institutional adoption of Chainlink.
XRP ETF on the Horizon
Following DTCC’s latest update, attention has now shifted to the anticipated XRP ETF. Fund manager Canary Capital submitted Form 8-A earlier this week, a filing typically regarded as the final regulatory step before launch. Eric Balchunas, Senior ETF Analyst at Bloomberg, commented on X (formerly Twitter):
“Canary filed Form 8-A for the XRP ETF last night. This suggests the product could go live as soon as tomorrow or Thursday. All boxes are checked — only the official announcement remains.”
DTCC recently listed five spot XRP ETFs from major firms such as Bitwise, Franklin Templeton, 21Shares, Canary, and CoinShares in its “pre-launch” category.
This has fueled speculation that XRP may soon begin trading on the market alongside Bitcoin, Ethereum, Solana, and Litecoin ETFs.
Market Expectations on the Rise
Experts believe that Bitwise’s launch of DOGE and LINK ETFs, combined with the potential introduction of XRP funds, could signal the beginning of a new institutional wave in altcoin-based ETFs. Such products are considered strategic tools that increase liquidity and investor confidence, allowing individuals to gain price exposure without directly holding tokens a major step forward for mainstream adoption of crypto assets.
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