Bitwise Asset Management has taken a major step toward bringing Chainlink (LINK) into mainstream portfolios, filing an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a spot Chainlink exchange-traded fund. The filing, first flagged publicly this morning by Bloomberg ETF analyst Eric Balchunas on X, proposes a fund that would hold LINK directly and make the token available to U.S. investors through a traditional brokerage wrapper.
The S-1 describes the proposed Bitwise Chainlink ETF as a trust whose sole digital-asset holding would be Chainlink, with daily valuation tied to an industry pricing benchmark. The filing names Coinbase Custody as the intended custodian for the underlying LINK reserves and lays out standard risk disclosures about market volatility, custody insurance limits and valuation mechanics. Approval from the SEC would be required before the product could list and trade.
The initial alert came in a short X post from Eric Balchunas, a familiar voice in the ETF and crypto communities, who wrote in his tweet: “Bitwise just filed for a spot Chainlink ETF.” The post drew swift attention across crypto feeds and was followed within minutes by coverage from crypto outlets.
What it Means for LINK
Market observers say the move is notable for a few reasons. Chainlink, a decentralized oracle network that supplies off-chain data to smart contracts, is among the larger altcoins but has not previously been the explicit focus of a U.S. spot ETF filing. If the SEC accepts and ultimately approves the registration, it would mark a widening of regulated, brokerage-accessible crypto products beyond the Bitcoin and Ethereum spot ETFs that have already reshaped institutional flows this year.
Bitwise has been active in seeking regulated crypto products for U.S. investors. The firm has filed other crypto ETPs in recent years and has positioned itself aggressively in the post-Bitcoin-ETF market. The SEC’s review process will determine whether the registration advances or stalls; even when a firm files, approvals are not guaranteed and can take time.
Chainlink’s price action reacted to the headlines on some platforms, with traders and analysts weighing the potential for increased demand if a spot ETF were eventually approved. Observers caution, however, that a filing is an early, not final, step, and market outcomes will depend on regulatory review, investor appetite and the broader crypto cycle.
For now, Bitwise’s S-1 provides the clearest signal yet that asset managers are looking beyond the two largest cryptocurrencies when designing regulated investment vehicles. Investors and market watchers will be watching the SEC docket and Bitwise’s subsequent disclosures for timing, ticker details and the exchange on which the fund would list.
