First Spot Chainlink ETF Coming to the U.S.

In a post on X, Nate Geraci stated that Grayscale has completed the necessary preparations to convert its existing Chainlink Trust into a spot ETF. According to Geraci, this conversion is not merely a technical update it is a crucial step that will enable institutional investors to gain direct exposure to LINK.

If the process is successful, the product will become the first spot Chainlink ETF traded on a U.S. exchange. With this transformation, the Chainlink Trust — established at the end of 2020 will be elevated into an ETF structure, making it accessible to a much broader range of investors after nearly five years.

How Will the LINK ETF Work?

The new product will follow Chainlink’s spot price directly. Additionally, the ETF will reportedly incorporate staking rewards earned from staking LINK into the fund structure.

This feature may allow investors to benefit from both:

• Spot price appreciation
• Staking-generated yields

Thus, indirect exposure to LINK may become significantly more attractive to traditional investors.

Grayscale’s expansion into altcoin ETFs extends beyond LINK. Last month, the company also introduced spot XRP and spot Dogecoin (DOGE) ETFs to the U.S. market. This broader expansion underscores growing institutional interest in the altcoin ecosystem.

Analysts commented on the development:

“Launching a spot ETF for Chainlink in the U.S. could increase institutional access and significantly boost LINK’s liquidity. The expanding ETF landscape signals a new era for altcoins.”

Conclusion

The spot Chainlink ETF that Grayscale is expected to launch this week highlights the rapid growth of regulatory-compliant investment products in the crypto market. By offering exposure to both LINK’s spot price and staking yields, the ETF provides institutional investors with a more secure and regulated pathway to participate in the Chainlink ecosystem.

With XRP and DOGE ETFs already on the market, the addition of LINK demonstrates intensifying competition and fast maturation in the altcoin ETF space. If expectations are met, the Chainlink ETF could become a significant catalyst for LINK’s price and liquidity.

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According to SoSoValue, Bitcoin ETFs recorded four consecutive weeks of net outflows starting the week of October 31. During this period, over $4.34 billion exited the funds. However, the last three days of November saw net inflows ahead of the U.S. Thanksgiving holiday.

BlackRock IBIT and Institutional Investments

BlackRock’s IBIT, the largest Bitcoin ETF by net assets, reported $2.34 billion in net outflows in November. On November 18, the fund recorded its largest single-day withdrawal since launch, totaling $523 million.

Nick Ruck, Director at LVRG, said, “Spot BTC ETF outflows reflect institutional profit-taking after Bitcoin’s all-time high and year-end portfolio rebalancing. Investor confidence remains strong. Total inflows are still positive, and Bitcoin futures open interest continues to rise.”

Altcoin ETFs and Emerging Opportunities

As of the end of November, total net inflows into U.S. Bitcoin funds reached $57.71 billion. The net asset value totaled $119.4 billion, representing 6.56% of Bitcoin’s total market capitalization. Spot Ethereum ETFs posted $1.42 billion in outflows during the month but ended the final five days with consecutive net inflows.

Newly launched Solana, XRP, and other altcoin ETFs recorded weekly net inflows since their debut. XRP ETFs attracted a total of $666 million in investment. Canary’s Litecoin and Hedera ETFs drew $7 million and $36 million, respectively. This shows that investor interest in altcoin ETFs remains moderate but growing.

According to Ruck, “Solana and other new altcoin ETFs attracted only modest inflows despite high volatility. Institutional capital remains concentrated in Bitcoin and Ethereum. This trend will continue until regulatory clarity and on-chain stability improve.”

Additionally, Nate Geraci, President of NovaDius Wealth, announced that Grayscale will launch the U.S.’s first spot Chainlink ETF this week. This new product expands diversity in the crypto ETF market and signals growing institutional interest in altcoins.

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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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