Particle.news
Download on the App Store
16 ARTICLES
·
3d ago

Grayscale Seeks to Convert Chainlink Trust Into NYSE Arca ETF With Staking Option

The bid advances under NYSE Arca’s proposed generic listing framework that could streamline SEC approval.

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

Overview

  • Grayscale filed a Form S-1 on Sept. 5 to turn its roughly $28–29 million Grayscale Chainlink Trust into a spot ETF that would trade on NYSE Arca under the ticker GLNK.
  • The proposed fund would hold LINK directly with Coinbase Custody as custodian and BNY Mellon as administrator and transfer agent, using cash creations and redemptions in 10,000‑share blocks.
  • The filing preserves the ability to add in‑kind transfers and to stake a portion of LINK in the future, both contingent on regulatory and tax clearance.
  • An NYSE Arca 19b-4 submission is still required before the SEC can consider listing, with timing influenced by the exchange’s pending generic listing standards for commodity-based ETPs.
  • The application competes with Bitwise’s August filing for a Chainlink ETF, and LINK rose about 3% to trade above $23 following news of Grayscale’s move.