Bitwise Asset Management has submitted an application to the U.S. Securities and Exchange Commission (SEC) for the launch of an exchange-traded fund (ETF) linked to Chainlink's LINK token. This could become the first such initiative in the United States.
Proposed Bitwise Chainlink ETF
Bitwise Asset Management has submitted a preliminary prospectus for an ETF that will be directly tied to Chainlink’s LINK token. If approved by the SEC, this will be the first ETF in the U.S. focusing on a decentralized oracle network. According to the filed document, Coinbase Custody Trust Company will act as the custodian, and the fund would track the CME CF Chainlink Dollar Reference Rate.
Chainlink's Role in the Crypto Market
Founded in 2019, Chainlink has become a key component of how blockchains operate. Its oracles provide smart contracts with real data, from market prices to basic readings like weather conditions. The protocol supports thousands of projects across decentralized finance (DeFi), non-fungible tokens (NFTs), gaming, and cross-chain applications. LINK, the token that powers the network, currently ranks 11th by market capitalization among cryptocurrencies.
Future of ETFs and Investment Opportunities
Based in San Francisco, Bitwise is actively developing a lineup of single-token products and is awaiting decisions on other ETF proposals linked to Ripple, Solana, Dogecoin, and Aptos. If the new application is approved, the Bitwise Chainlink ETF will broaden access for traditional investors to one of the most widely utilized tokens in blockchain infrastructure.
Bitwise's request to create a Chainlink-connected ETF highlights the growing interest of institutional investors in a broader array of cryptocurrencies beyond Bitcoin and Ethereum.
