cryptodnes.bg
Bitwise’s upcoming Chainlink exchange-traded fund (ETF) appears to be moving closer to market launch, after showing up this week on the Depository Trust and Clearing Corporation’s (DTCC) registry - a key step that often signals an ETF is nearing approval.
The DTCC listing, which places the Bitwise Chainlink ETF under both the “active” and “pre-launch” categories, indicates that technical preparations are underway for the fund’s debut. The ETF, which will trade under the ticker CLNK, is designed to track the price of Chainlink (LINK) – the native token of the blockchain oracle network that connects smart contracts with real-world data.
While being listed on the DTCC does not guarantee a green light from the U.S. Securities and Exchange Commission (SEC), it has historically been one of the final milestones before an ETF officially goes live.
Bitwise, one of the largest digital asset managers in the United States, filed its Form S-1 registration statement for the Chainlink ETF in August and is still expected to submit a Form 8-A – the last document required before a security begins trading on an exchange.
The fund’s addition to the DTCC system comes as dozens of other crypto-based ETFs await SEC decisions. The ongoing U.S. government shutdown, now in its sixth week, has delayed progress across several federal agencies, including the SEC, which has been operating with reduced staff. However, optimism is returning after the Senate passed a bill to reopen the government, potentially clearing the backlog of pending ETF applications.
Grayscale, another major player in digital asset management, is also pursuing its own spot Chainlink ETF. Unlike Bitwise’s proposal, Grayscale’s product seeks to incorporate staking, a feature that could complicate the approval process given current regulatory uncertainty around yield-generating crypto assets.
The growing number of ETF filings – covering tokens such as Solana, Avalanche, Hedera, and Dogecoin – reflects an accelerating effort by fund managers to expand crypto exposure beyond Bitcoin and Ethereum. The SEC’s introduction of new “generic listing standards” earlier this year is also expected to streamline approvals by allowing certain crypto ETFs to move forward without case-by-case reviews.
If the process continues smoothly, Bitwise’s Chainlink ETF could be among the next wave of altcoin funds to reach U.S. markets – signaling another step toward broader institutional adoption of blockchain asset