Chainlink submits SEC application for launching a direct investment fund

In a significant move for the cryptocurrency market, Grayscale has applied to convert its Chainlink Trust into a spot-based exchange-traded fund (ETF). If approved, the GLNK ETF could potentially attract a significant amount of interest in the DeFi ecosystem and the Chainlink token.

The GLNK ETF, if realized, will be the first of its kind for the altcoin market. Initially, the ETF will track Chainlink using a cash-based system, with Galaxy Digital and Jump Crypto providing the necessary infrastructure to ensure its secure and smooth operation.

The SEC has been cautious about approving spot ETFs, but Grayscale's filings coincide with regulators exploring ways to safely integrate digital assets into traditional markets. This could mark a milestone in the acceptance of cryptocurrencies as a legitimate investment option.

For investors, a structured ETF for Chainlink offers a simpler and safer way to add a significant DeFi token to their portfolios. The ETF will trade on NYSE Arca under the ticker symbol GLNK, with the first trading date announced in the year 2025, following the S-1 filing submitted on September 5, 2025.

Moreover, Grayscale plans to introduce physical redemption support for the GLNK ETF, enabling investors to directly purchase LINK tokens. This move simplifies and clarifies crypto investments for both institutional and individual investors, eliminating the need for managing wallets, private keys, or crypto exchange accounts.

Grayscale's focus on altcoin ETFs is not limited to Chainlink. The company has also proposed ETFs for Avalanche (AVAX), Dogecoin (DOGE), Litecoin (LTC), Solana (SOL), and XRP. A Chainlink spot ETF could set a new standard for altcoin investment and pave the way for more structured crypto ETFs in the future.

Chainlink plays a significant role in the DeFi ecosystem as a decentralized oracle network that connects blockchains to real-world data. By creating a spot ETF, Grayscale allows investors to benefit from Chainlink's growth without directly holding tokens. This could potentially attract corporate interest and increase liquidity in the Chainlink market.

Furthermore, the proposed ETF could serve as a model for accessible, transparent, and structured crypto products in the coming years. Multicoin Capital will offer guidance on Solana and other altcoin investment decisions for the GLNK ETF, ensuring a well-rounded and thoughtful approach to the ETF's management.

Grayscale's move beyond Bitcoin and Ethereum into altcoin ETFs is a testament to the growing acceptance and maturity of the cryptocurrency market. As the first altcoin spot ETF, the GLNK ETF could revolutionize the way investors approach cryptocurrency investments, making them more accessible and organized.