Grayscale is gearing up to launch the United States’ first spot Chainlink ETF by converting its long-standing private trust into a publicly traded fund.
Quick Summary – TLDR:
- Grayscale will convert its Chainlink trust into the first US spot LINK ETF this week.
- The ETF gives regulated access to LINK exposure and staking rewards.
- Analysts expect over 100 new crypto ETFs in the next six months.
- Bitwise is preparing a competing Chainlink ETF.
What Happened?
Grayscale Investments is preparing to roll out the country’s first-ever spot Chainlink exchange-traded fund (ETF). The product, expected to launch this week, is a conversion of the company’s existing Chainlink trust, established in 2020, into a fully regulated ETF. This development positions Grayscale ahead of rivals like Bitwise, which has also filed for a similar product.
Set to launch this week…
— Nate Geraci (@NateGeraci) December 1, 2025
First spot link ETF.
Grayscale will be able to uplist/convert Chainlink private trust to ETF. pic.twitter.com/i7z0WAKKvC
Grayscale Takes the Lead with Chainlink ETF
Grayscale’s move to convert its Chainlink private trust into a spot ETF marks a major step in the evolution of altcoin-focused financial products in the United States. According to Nate Geraci, co-founder of the ETF Institute, the conversion is set to go live this week. Bloomberg ETF analyst Eric Balchunas supports this timeline, indicating a probable launch date of December 2.
The ETF will give investors exposure to the spot price of LINK, while also passing along staking rewards, which sets it apart from many earlier crypto ETFs. Grayscale describes Chainlink as a “critical connective tissue” between blockchain technology and traditional finance, reflecting strong institutional belief in the project’s role.
Surging Interest in Altcoin ETFs
The timing of the launch is no coincidence. The crypto ETF space is heating up fast, particularly around altcoins like Solana, XRP, and Dogecoin. Grayscale and Bitwise have already introduced multiple new funds focused on these tokens, and analysts forecast more than 100 new crypto ETFs could hit the market over the next six months.
Highlights from recent altcoin ETF activity include:
- Canary Capital’s XRP ETF recorded $58 million in first-day inflows, the highest of the year.
- Bitwise’s Solana Staking ETF has accumulated $660 million in assets in just three weeks, with no outflows.
- New XRP and Dogecoin ETFs from Grayscale began trading this week after NYSE approvals.
This surge reflects growing demand among both retail and institutional investors for regulated, simplified access to crypto markets.
Why Chainlink?
Chainlink’s unique value proposition lies in its ability to bridge smart contracts with real-world data, which has made it a favorite among institutional investors. By converting the trust into an ETF, Grayscale allows asset managers and other traditional players to invest in LINK without handling crypto wallets or private keys. All exposure happens through standard brokerage accounts, removing a major barrier to entry.
Moreover, the ETF structure makes it easier for pension funds, endowments, and corporations to access Chainlink as part of diversified portfolios, particularly with the added benefit of staking rewards.
Bitwise Close Behind
While Grayscale is first to market with a Chainlink ETF, Bitwise has already submitted an application for a competing product. Approval timing will likely determine which company secures the early inflow advantage, especially given the intense interest in altcoin-linked funds.
SQ Magazine’s Takeaway
I think this is a huge moment for altcoin adoption. It’s not just about Grayscale launching another crypto product. This is about mainstream investors finally getting regulated, easy access to promising blockchain tech like Chainlink. The fact that staking rewards are included? Even better. We’re watching a shift where crypto is no longer just for early adopters or tech geeks. With ETFs like this, crypto is officially going Wall Street, and I’m here for it.
