Industry analysts report that Grayscale Investments is preparing to convert its existing Chainlink Trust into what could become the first U.S. spot Chainlink (LINK) exchange-traded fund. While no official launch date has been confirmed by Grayscale or the SEC, commentators suggest the earliest feasible window is the week of December 2, 2025, assuming all regulatory steps are completed.
The conversion would transition the approximately $30 million private trust into a publicly traded fund on NYSE Arca under the proposed ticker “GLNK.” If approved, the structure would provide regulated spot exposure to LINK and may include provisions for staking rewards, depending on final regulatory allowances and fund operations.
Details of the Proposed Chainlink ETF
The proposed ETF centers on Chainlink, a decentralized oracle network that provides real-time data feeds to smart contracts on blockchain platforms. Chainlink's native token, LINK, is used for payments within the network, including node operator compensation and staking mechanisms. The Grayscale Chainlink Trust, established earlier, has operated as a private investment vehicle. Still, its conversion to an ETF would enable trading on public exchanges, as with spot Bitcoin and Ethereum ETFs.
Under the GLNK structure, the ETF would hold LINK directly to track its spot price, offering exposure without requiring investors to manage wallets or on-chain custody. Grayscale has indicated in other filings that staking could be considered where regulators permit it, but any yield-sharing setup would need clear SEC approval and detailed disclosures. Like all NYSE Arca listings, the fund would be subject to standard SEC reporting and market surveillance requirements.
Grayscale's approach involves uplisting the trust, a process that converts a closed-end fund into an open-ended ETF. This method has been used in prior crypto ETF launches, allowing for creation and redemption of shares based on underlying assets. The trust's current asset under management (AUM) of about $30 million provides a foundation, though inflows could increase post-launch due to broader accessibility.
Expert Analysis and Statements
Nate Geraci, president of the ETF Institute, has publicly stated that Grayscale intends to proceed with the uplisting this week. His post has been amplified by various crypto analysts and news accounts on the platform, contributing to widespread discussion.
Set to launch this week…
— Nate Geraci
First spot link ETF.
Grayscale will be able to uplist/convert Chainlink private trust to ETF.
Eric Balchunas, a senior ETF analyst at Bloomberg, had earlier disclosed that $GLINK may be launched one week after the introduction of $GDOG. With the Grayscale Dogecoin ETF already live, GLINK will likely follow suit shortly. In the meantime, the imminent launch is part of a larger trend in cryptocurrency ETFs, with more such products expected to emerge over the next six months. Additionally, the development comes amid Bitwise Asset Management’s filing for a competing LINK ETF, which remains in the regulatory pipeline.
These views represent analyst interpretation rather than official confirmation. Meanwhile, Bitwise Asset Management has filed a competing LINK ETF, highlighting growing institutional interest but also introducing competitive dynamics around fees, liquidity, and product design.
Implications for Investors and the Crypto Sector
For institutional investors, a spot Chainlink ETF would simplify access, bypassing the complexities of direct token custody, such as wallet management and security protocols. Retail investors could trade GLNK shares through standard brokerage accounts, with intraday pricing based on LINK's spot value.
Competition from Bitwise's proposed ETF could lead to fee reductions or enhanced features, as seen in Bitcoin ETF wars where expense ratios dropped below 0.2%. Grayscale's existing trust gives it a first-mover advantage, potentially capturing early inflows.
While the launch seems imminent, potential delays could arise from last-minute regulatory reviews or market conditions. Historical ETF launches have been delayed by SEC comments on filings. With this in mind, investors should monitor official announcements from Grayscale or the NYSE for confirmation.
As with any spot crypto ETF, GLNK would come with real risks. LINK’s price can swing sharply, and early trading could see wider spreads given the trust’s current $30 million AUM. Staking-enabled structures, if allowed, also carry technical and regulatory considerations, which the SEC has not fully standardized across products. Investors typically watch for updated SEC filings, issuer announcements, and NYSE Arca listing bulletins for reliable signals on final approval.
Conclusion
The anticipated launch of Grayscale's Chainlink ETF this week represents a step toward integrating decentralized oracle networks into traditional investment vehicles, drawing on expert analyses from figures such as Nate Geraci and Eric Balchunas.
While analyst sentiment points to a launch soon, the final timeline depends on SEC clearance and exchange procedures. Anyone tracking GLNK should monitor Grayscale updates, SEC documents, and NYSE Arca notices. With crypto ETF rules still evolving, sticking to verified disclosures remains the safest way to stay informed.