Bitwise Asset Management has filed for the first spot Chainlink ETF, which could change the cryptocurrency ETF market and spark interest in other altcoins.
Filing for Chainlink ETF
On August 26, 2025, Bitwise Asset Management filed with the SEC for approval of the first U.S. Chainlink (LINK) ETF. This marks a significant step in expanding crypto ETF offerings beyond Bitcoin and Ethereum. The filing includes Coinbase Custody as custodian, which could influence similar undertakings for other altcoins if approved.
Market Reaction to the News
Following the ETF filing news, LINK's price jumped approximately 5%, indicating increased market enthusiasm. No immediate price reactions were noted for Bitcoin or Ethereum; however, the news sparked interest in potential altcoin pathways.
Future of Altcoins and ETFs
The request for a Chainlink ETF reflects a possible shift in regulatory acceptance of altcoin-based products. It broadens opportunities for investors and might prompt further ETF applications, diversifying the crypto investment landscape. Market analysts are closely monitoring the SEC's response, as past spot ETF events have shown their impact on investor sentiment and industry direction.
Bitwise's application for a Chainlink ETF could mark a significant milestone for the cryptocurrency market, opening up new horizons for altcoins and indicating regulators' changing approach to investment instruments.
