Grayscale Files to Convert Chainlink Trust into Spot ETF on NYSE
Grayscale has submitted a filing to the U.S. Securities and Exchange Commission (SEC) to convert its Chainlink Trust into a spot exchange-traded fund (ETF).
- The proposed ETF would trade on NYSE Arca under the ticker GLNK.
- This application includes a potential staking feature, allowing the fund to use third-party staking providers while keeping LINK tokens with custodians.
- Staking rewards could be retained by the fund or distributed to shareholders, subject to regulatory guidance.
- The existing Chainlink Trust manages nearly $29 million in assets and has been operational since February 2026.
- Coinbase Custody Trust Company will act as custodian for the ETF.
- The ETF would mirror share creation processes used by recently approved bitcoin and ethereum ETFs but may allow in-kind redemptions based on future regulations.
- Grayscale is working to transition other crypto trusts into ETFs, including those linked to solana, dogecoin, and XRP.
- As of now, the SEC has not approved or denied any pending applications.
- If approved, the GLNK ETF would provide regulated access to Chainlink’s price performance and potentially offer an income component through staking.
- LINK token has risen by 3% in the past 24 hours amid a broader altcoin rally.