Overview

• A Sept. 5 Form S-1 seeks to convert the roughly $28.7 million Grayscale Chainlink Trust into an ETF trading under the ticker GLNK.
• The fund would hold LINK directly with Coinbase Custody as custodian and BNY Mellon as administrator and transfer agent.
• Share creation and redemption would begin with cash-only transactions in 10,000-share blocks, with in-kind LINK transfers contemplated if regulators allow.
• The filing leaves open the option to stake a portion of the LINK via third-party providers, subject to tax and regulatory clearance and with assets remaining in custodian wallets.
• Grayscale still needs a 19b-4 submission and SEC approval, and the proposal arrives alongside a competing Chainlink ETF filing from Bitwise.