Grayscale has submitted to the US Securities and Exchange Commission to convert its existing Chainlink Trust to a spot exchange traded fund.
The proposed Etf-If approved-Ville act at NYSE ARCA under Ticker GLNK, according to a Monday S-1 registration statement submitted to the regulator. This is one of two documents required to make a ETF application official.
Chainlink’s Link -Token is higher with 3% over the past 24 hours next to a general rally in altcions that has seen XRP add 2.6%, sun 5% and DOGE 7.4%.
Grayscales filing also includes a potential stacking function. If allowed, the fund could use third -party providers while holding the tokens link in depot wallets. Rewards staking could be preserved by the fund, distributed to shareholders or sold to cover expenses, depending on future regulatory guidance.
The product would convert from the Grayscale Chainlink Trust, which has been around since February 2026 and is currently managing nearly $ 29 million in assets. Coinbase Coarte Trust Company would act as a depot.
Grayscale said that ETF would process the sharing of creations and redemptions in cash, mirroring the structure used by recently approved Spot Bitcoin and Ethereum Etfs. However, archiving allows the possibility of redemption in nature if future rules allow.
The move is part of a broader effort from the gray scale to transfer more single-cost crypto trusts to ETFs. Other pending suggestions include funds attached to the price of Solana Dogecoin and XRP.
SEC under President Paul Atkins has not yet approved or denied any of these pending applications, but it has not prevented companies from preparing products that they believe could be among the first in their asset class.
If approved, GLNK ETF would give traditional investors regulated access to Chainlink’s price performance that strengthens decentralized dataafeeds for blockchain applications and smart contracts. The addition of efforts can also provide an income component that is not yet available in most US crypto -Tfs.
At present, the market seems to be reacting optimistically with a link issuing one of today’s stronger gains among larger cryptocurrencies.
