Asset Manager Bitwise Files for a Spot Chainlink ETF

TL;DR

• Bitwise has filed for a spot Chainlink ETF with the U.S. SEC.

• LINK is up 6% in the last 24 hours and is now trading above $24.

Bitwise Files for a Spot Chainlink ETF

Digital asset manager Bitwise has filed for a spot-based exchange-traded fund (ETF)  focused on holding the native token of Chainlink, LINK. This latest development comes as an increasing number of asset managers seek to launch spot ETFs tracking the prices of leading altcoins such as Solana, Chainlink, XRP, Litecoin, SUI, and others.

The registration statement filed with the U.S. Securities and Exchange Commission on Tuesday reveals that the Bitwise Chainlink ETF aims to provide investors with direct exposure to LINK. Bitwise also named Coinbase Custody as the proposed custodian for the tokens.

Spot Bitcoin and Ethereum ETFs are already available in the United States and have racked up billions of dollars in investments since their launch less than a year ago. 

LINK is up 6% in the last 24 hours and is now trading at $24.55 per coin.