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Grayscale Moves to Convert Chainlink Trust Into Spot ETF Tickered GLNK

Approval hinges on the SEC’s review of NYSE Arca’s proposed generic listing standards.

Grayscale seeks sec nod for bitcoin cash and hedera etfs
Grayscale files for what could be first ever u.s. chainlink etf
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grayscale

Overview

  • Grayscale filed a Form S-1 on Sept. 5 to convert its roughly $29 million Chainlink Trust into a spot ETF expected to list on NYSE Arca as 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 start as cash-only in 10,000‑share baskets, with in‑kind transfers considered later if regulators permit.
  • The filing leaves open the possibility of staking LINK for rewards, contingent on future tax and regulatory clearance.
  • LINK rose about 3% to trade above $23 after reports of the filing, as Grayscale and rivals including Bitwise press a wider push for altcoin ETFs, with Grayscale also submitting new BCH, LTC, and HBAR ETF filings.