Bitwise Files for Chainlink Spot ETF as SEC Considers Next Wave of Crypto Funds

Highlights:

• Bitwise has filed for a Chainlink spot ETF with the SEC decision testing demand for altcoin products in the United States.
• Chainlink may be included in the Canary Capital Made in America ETF, highlighting its role as a leading US-based digital asset.
• Matt Hougan views LINK as one of the clean crypto assets as Bitwise pushes for broader single-token ETF expansion.

Bitwise Asset Management filed with the U.S. Securities and Exchange Commission on August 26 to launch a spot Chainlink exchange-traded fund. The product would give investors direct exposure to Chainlink’s native token, LINK, in a regulated structure. Bitwise positioned the ETF as a way for institutions to access LINK without managing custody themselves.

Bitwise just filed for a spot Chainlink ETF pic.twitter.com/jRHPXEP9a7

— Eric Balchunas (@EricBalchunas) August 26, 2025

The filing of the company stated that Coinbase Trust Company will custody the tokens. Coinbase Prime will manage the execution process for share creation and redemption. The fund aims to track the CME CF Chainlink-Dollar Reference Rate, which measures the market price of LINK in U.S. dollars.

Bitwise explained that the ETF will support both in-kind and cash transactions for creation and redemption. The approach reflects the structure of the spot Bitcoin and Ethereum ETFs that went live earlier this year. The filing also clarified that the ETF will not include staking rewards or validator participation. Instead, the trust will reflect only LINK’s spot market value. Bitwise emphasized a simple structure that focuses on price exposure rather than additional yield.

Bitwise Files for Chainlink Spot ETF Amid SEC Review Wait

The proposal now moves to the SEC for review. The agency has approved Bitcoin and Ethereum ETFs, but altcoins present new questions. LINK has shown volatility, and its classification remains uncertain. Bitwise attempted to address this by keeping the fund straightforward and easy to evaluate.

Investor demand for LINK exposure has already appeared in Europe. Firms such as 21Shares and VanEck offer Chainlink products in that region. Those products show market appetite, but the U.S. market offers a larger scale and higher capital inflows. An SEC decision in favor of Bitwise could expand that demand further.

Other firms are also broadening crypto ETF offerings. Grayscale filed to convert its Avalanche Trust into a spot ETF. At the same time, Canary Capital advanced its “Made in America” ETF, which highlights leading U.S.-based crypto assets. Chainlink was included in that lineup, showing recognition of its position among the top five assets by market capitalization in the United States.

🚨 Canary Capital has just filed an S-1 for a Spot American-Made Crypto ETF that will hold altcoins made and based in the US.

Altcoins made in the US include: $HBAR $XRP $SOL $ADA $LINK $XLM $SUI & more.@EricBalchunas Senior ETF Analyst, Bloomberg:"This spot product will only… pic.twitter.com/h3iqfKdWK6

— ALLINCRYPTO (@RealAllinCrypto) August 25, 2025

If approved, the Bitwise Chainlink ETF would be among the first U.S. ETFs tied to an oracle network token. That development would show that the SEC is prepared to extend approvals beyond the largest cryptocurrencies. It would also mark a significant step for the role of decentralized data services in traditional finance.

Market Outlook and Analyst Insights on Chainlink

A U.S.-listed Chainlink ETF would provide institutions with a regulated avenue for exposure without handling direct token custody. It could also bring more legitimacy to LINK’s expanding role in decentralized finance, gaming, NFTs, and cross-chain systems. Chainlink already supports integrations with Swift, SBI, and the Central Bank of Brazil.

Matt Hougan, Bitwise’s chief investment officer, described LINK as one of the “cleanest” crypto assets supporting tokenization. In a July analysis, he said Chainlink stands out due to its role across blockchain ecosystems and its broad adoption. His assessment highlighted LINK’s growing importance in connecting traditional finance with decentralized platforms.