Grayscale Investments filed an S-1 registration with the SEC to convert its Chainlink Trust into a spot ETF on September 8, 2025. This event highlights significant institutional interest in alternative cryptocurrencies.
Details of Grayscale's Filing
Grayscale has filed with the SEC to convert its existing Chainlink Trust into a spot ETF. The company, led by CEO Michael Sonnenshein, aims to list the ETF under the ticker GLNK on NYSE Arca. Key partner for custody of LINK tokens will be Coinbase Custody Trust company.
Market Reaction to the Announcement
The announcement caused the LINK price to rise approximately 3%, trading at around $23.19. Similar ETF news has historically supported price increases and shifts in trading volumes, indicating potential changes in market participation.
Impact on DeFi Protocols
A successful ETF launch could affect other DeFi protocols that rely on Chainlink oracles, increasing their visibility and demand. Increased institutional engagement appears consistent with Grayscale's expansion efforts in alternative cryptocurrencies.
Grayscale’s filing for a Chainlink ETF underscores rising institutional interest and potentially could shift market dynamics, impacting prices and demand for Chainlink and related assets.
