Grayscale Seeks SEC Nod for Chainlink Spot ETF with Staking

- Grayscale files to convert Chainlink Trust into a spot ETF. - Filing reflects growing pro-crypto momentum under Trump administration. On September 8, 2025, Grayscale filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC). The company aims to convert its Chainlink Trust into a spot Chainlink exchange-traded fund (ETF). If the SEC grants approval, the ETF will trade on the NYSE Arca under the ticker symbol GLNK and offer investors direct exposure to Chainlink’s native token, LINK. The proposed ETF includes a standout staking component designed to generate additional yield for investors. Grayscale plans to stake a portion of LINK assets through third-party providers, a plan that depends on meeting tax and regulatory requirements. During the staking process, Coinbase Custody Trust Company will retain custody of the assets. Initially, the fund will use a cash-based model for its creation and redemption structure, which is similar to existing U.S.-approved spot Bitcoin and Ethereum ETFs. The filing also allows for in-kind redemptions in the future, pending regulatory approval. This move represents another push by asset managers to launch cryptocurrency-backed ETFs. Besides Chainlink, Grayscale has filed applications for ETFs tied to other digital assets such as Avalanche and Dogecoin, while competing firms like Bitwise have submitted similar filings for spot Chainlink ETFs. This wave of ETF applications highlights a growing expectation among asset managers for more regulatory openness toward cryptocurrency under the Trump administration. Following Grayscale’s announcement, LINK’s price rose approximately 5% to reach $23.14, reflecting positive market sentiment. On September 8, CoinMarketCap reported that Chainlink (LINK) was trading at $23.104 as of 12:44 UTC, while its 24-hour trading volume had increased by 3.809%.