Bitwise has filed to launch a Chainlink ETF, aiming to give investors direct exposure to the token through holdings tracked against the CME CF Chainlink-Dollar Reference Rate.
Summary
- Bitwise’s Chainlink ETF would hold LINK tokens directly, with Coinbase Custody Trust Company serving as custodian.
- Approval would position Bitwise’s fund alongside Tuttle Capital Management, which filed for a leveraged Chainlink ETF earlier this year.
Bitwise has filed a Form S-1 with the U.S. Securities and Exchange Commission, seeking approval to launch the Bitwise Chainlink ETF. The ETF aims to track the CME CF Chainlink-Dollar Reference Rate, providing investors with daily exposure to LINK’s market value. The fund will hold LINK tokens directly, with Coinbase Custody Trust Company serving as custodian.
Meanwhile, LINK price has dipped about 5% in the past 24 hours after recently climbing to $28, continuing the uptrend that began with its late-June reversal. Despite this pullback, the higher-low pattern remains intact, and bullish projections by crypto.news indicate it could be a prime opportunity to buy the dip.
Chainlink ETF joins expanding roster of crypto fund applications
If approved, the Bitwise Chainlink ETF would join a small but expanding group of crypto-focused funds targeting Chainlink (LINK). Notably, Tuttle Capital Management filed in January for 10 leveraged ETFs, including one for Chainlink. Those ETFs are structured to deliver 2× the daily return of the underlying asset using a combination of swaps, options, and direct holdings.
Beyond Tuttle and Bitwise, the SEC currently has a robust pipeline of 70+ crypto-related ETF applications under review, spanning a wide array of tokens, including Ripple (XRP), Solana (SOL), Dogecoin (DOGE), and, as of yesterday, Avalanche (AVAX).
