Grayscale Moves Closer to Bringing a Spot Chainlink (LINK) ETF to U.S. Markets
Grayscale appears to be inching toward the debut of what could become the first spot Chainlink (LINK) ETF in the United States. Interest around the product has grown quickly, especially after ETF Institute founder Nate Geraci noted that the company is now well-positioned to transition its existing Chainlink trust into a fully tradable ETF.
His comments come shortly after Bloomberg’s Eric Balchunas suggested the industry may be on the verge of a major wave of approvals. According to his estimate, the market could see close to 100 spot ETFs roll out over the next half year, with several potentially going live within days. For the Chainlink product specifically, Balchunas mentioned that regulators may issue a decision as early as December 2.
How the Chainlink ETF Reached This Point
Grayscale first submitted its S-1 registration to the U.S. Securities and Exchange Commission in September. The filing outlines a fund designed to mirror the model used by spot Bitcoin and Ethereum ETFs, with all creations and redemptions being handled in cash. If the SEC gives the green light, the product would trade on NYSE Arca under the ticker GLNK.
The broader ETF landscape has been evolving as well. After the SEC introduced new disclosure guidelines meant to streamline the review process, several issuers, including Fidelity, Bitwise, Canary Capital, and Grayscale, were required to update their filings tied to different digital assets. Some altcoin-focused ETFs, including those linked to XRP, are already live and seeing growing inflows. Additional products, such as the Grayscale Dogecoin ETF, Bitwise DOGE ETF, Grayscale XRP Trust, and Franklin’s XRP offering, are reportedly lined up for possible approval this month.
How Chainlink’s Price Is Reacting
LINK has continued to face pressure across major timeframes. The token was trading near $12.14 at the latest check, reflecting losses of 6% in 24 hours, 3% over the week, 28% over the past month, and 49% across the last quarter.
Still, some analysts remain optimistic. WorldOfCharts pointed to a falling wedge structure forming on LINK’s BTC pair, noting that price action is tightening just below a potential breakout point. A confirmed breakout, they argue, could pave the way for a move toward $20.
Another commentator, Lord Hydra, compared LINK’s position on the charts to Amazon’s (AMZN) setup back in 2007 and 2008, an analogy that has sparked interest among long-term investors.
Amid these technical observations, Grayscale reiterated its confidence in Chainlink’s broader role in the digital-asset economy, stating that Chainlink “will anchor the entire tokenization market.” With tokenized assets already valued at an estimated $35 billion and expanding quickly, the firm believes the timing for a dedicated Chainlink ETF could not be better.
Disclaimer: This content does not constitute trading or investment recommendations. It’s essential to conduct your own research before purchasing any cryptocurrency or investing in any services.
