ETF Structure and Trading Framework
Bitwise Asset Management has launched a new U.S.-listed crypto product, expanding regulated access to Chainlink. The Bitwise Chainlink ETF began trading on NYSE Arca under the ticker CLNK. The launch involved Bitwise, U.S. exchanges, and institutional investors seeking spot exposure to LINK through brokerage accounts.
According to Bitwise, CLNK provides direct spot exposure to Chainlink’s market price without requiring token custody. The fund tracks the CME CF Chainlink-Dollar Reference Rate to calculate daily net asset value. This structure aligns CLNK pricing with benchmarks used across regulated crypto products.
Notably, the ETF charges a 0.34% management fee. However, Bitwise waived fees for the first three months on up to $500 million in assets. Chainlink tokens held by the fund are stored with Coinbase Custody in segregated institutional cold storage accounts.
CLNK does not stake LINK at launch. However, Bitwise stated it may amend filings later, subject to regulatory approval. This approach limits custody complexity and reduces initial operational risk.
Chainlink’s Role in Blockchain Infrastructure
Chainlink launched in 2017 and focuses on decentralized oracle services. These services allow blockchains to access external data and systems. According to Bitwise, Chainlink has facilitated more than $27 trillion in transaction value across over 70 blockchains.
Additionally, more than $75 billion in decentralized finance contracts rely on Chainlink data feeds. The network has published over 19 billion verified onchain messages. Major DeFi platforms, including Aave and Polymarket, use Chainlink infrastructure.
Chainlink has also worked with traditional institutions such as JPMorgan, Mastercard, and SWIFT. These collaborations focus on tokenization experiments and cross-network payments.
Market Context and Institutional Activity
CLNK entered the market alongside another U.S. Chainlink product, Grayscale’s GLNK. Combined, LINK-focused ETFs have reported about $64 million in cumulative net inflows. Total assets across these funds stand near $88 million.
Recent trading sessions showed stable flows, with no notable inflows or outflows. During the latest session, LINK traded near $14.25 after recovering from earlier intraday declines. The price previously dipped below $13.90 before reversing.
According to Bitwise Chief Investment Officer Matt Hougan, Chainlink provides essential infrastructure connecting blockchains to real-world systems. CLNK now offers regulated market access to that exposure through standard investment channels.