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Bitwise has filed to launch a Chainlink ETF, aiming to give investors direct exposure to the token through holdings tracked against the CME CF Chainlink-Dollar Reference Rate.
- Bitwise’s Chainlink ETF would hold $LINK tokens directly, with Coinbase Custody Trust Company serving as custodian.
- Approval would position Bitwise’s fund alongside Tuttle Capital Management, which filed for a leveraged Chainlink ETF earlier this year.
Bitwise has filed a Form S-1 with the U.S. Securities and Exchange Commission, seeking approval to launch the Bitwise Chainlink ETF. The ETF aims to track the CME CF Chainlink-Dollar Reference Rate, providing investors with daily exposure to $LINK’s market value. The fund will hold $LINK tokens directly, with Coinbase Custody Trust Company serving as custodian.
Meanwhile, $LINK price has dipped about 5% in the past 24 hours after recently climbing to $28, continuing the uptrend that began with its late-June reversal. Despite this pullback, the higher-low pattern remains intact, and bullish projections by crypto.news indicate it could be a prime opportunity to buy the dip.
Chainlink ETF joins expanding roster of crypto fund applications
If approved, the Bitwise Chainlink ETF would join a small but expanding group of crypto-focused funds targeting Chainlink ($LINK). Notably, Tuttle Capital Management filed in January for 10 leveraged ETFs, including one for Chainlink. Those ETFs are structured to deliver 2× the daily return of the underlying asset using a combination of swaps, options, and direct holdings.
Beyond Tuttle and Bitwise, the SEC currently has a robust pipeline of 70+ crypto-related ETF applications under review, spanning a wide array of tokens, including Ripple (XRP), Solana (SOL), Dogecoin (DOGE), and, as of yesterday, Avalanche ($AVAX).