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Crypto asset manager Bitwise has launched a new exchange-traded fund (ETF) linked to Chainlink. The Bitwise Chainlink ETF, ticker symbol CLNK, began trading on the New York Stock Exchange Group’s fully electronic platform, NYSE Arca, on Wednesday morning.
Thus, investors now have a new tool to access Chainlink’s native token, LINK, through traditional financial markets.
Bitwise Investment Director Matt Hougan stated in his announcement regarding the launch, “With CLNK, investors have a new option to invest in one of the fundamental layers of the blockchain economy.” Hougan emphasized that Chainlink has become a critical part of the ecosystem by bridging the gap between real-world data and blockchain infrastructure.
CLNK’s launch follows the Chainlink ETF, which was launched by Grayscale on the NYSE Arca in December.
This development reveals increased institutional interest in Chainlink and strengthening investor demand for access to LINK through regulated products. NYSE Arca is already among the world’s leading platforms for exchange-traded products.
Chainlink stands out as an oracle network that connects blockchains with data from the outside world. The network has been adopted by a wide range of users, from national governments to large DeFi protocols like Aave and Polymarket, and traditional finance giants such as JPMorgan and Mastercard.
The LINK token has a market capitalization of over $9.5 billion, placing it among the top 25 cryptocurrencies.
Bitwise’s Chainlink ETF carries an annual management fee of 0.34 percent. However, to incentivize its launch, the company announced it would waive fees for assets up to $500 million for the first three months.
The fund’s launch is seen as part of a wave of crypto ETF approvals that has accelerated over the past year. A more constructive approach to digital assets from the White House and the U.S. Securities and Exchange Commission (SEC) is paving the way for faster market launches of such products.
*This is not investment advice.