Bitwise has submitted a registration statement (S-1) to the U.S. Securities and Exchange Commission (SEC) to launch a spot Chainlink (LINK) exchange-traded fund (ETF). This filing is part of a growing trend of single-token crypto funds, giving investors direct access to major blockchain assets. According to the filing , the Bitwise Chainlink ETF is meant to track the current market price of LINK, the token used in the Chainlink network. This ETF provides investors with a straightforward and regulated way to invest in LINK without the need to own it directly. Bitwise Chainlink ETF to Focus on Direct LINK Exposure Notably, Coinbase Custody Trust Company has been tapped to provide brokerage and custody services for the ETF. Meanwhile, Coinbase Inc. will help execute LINK transactions for the trust. The registration statement did not mention staking LINK or earning rewards from validators. Although recent guidance from the SEC affirmed that staking on proof-of-stake networks is not against federal securities laws, Bitwise has decided to structure the product to have direct market exposure. As such, it leaves out any staking features or opportunities to earn yield. If approved, this ETF would be the first to offer U.S. investors access to Chainlink, a top 20 cryptocurrency by market value. Chainlink is important for the Web3 ecosystem, providing decentralized oracle solutions used in DeFi, gaming, and enterprise blockchain platforms. Bitwise Targets Companies With Large Bitcoin Reserves Recall that Bitwise has also introduced a new ETF designed to track companies holding significant Bitcoin (BTC) reserves. The Bitwise Standard Corporations ETF will give investors exposure to firms that treat BTC as a strategic reserve asset , mirroring the rationale of individual BTC holders. Furthermore, the ETF follows the Bitwise Standard Corporations Index, which includes companies with at least 1,000 BTC in their corporate treasuries. Bitwise’s ETF is structured to cap its largest holding at 20%, ensuring diversification among Bitcoin-heavy corporations. This approach prevents over-reliance on any single company. It also capitalizes on the broader trend of corporate adoption of BTC. Growing Competition in Crypto ETFs Bitwise’s applications follow a wave of similar filings that began during President Donald Trump’s administration. Recently, Graysacle Investments filed with the U.S. SEC to transform its existing Avalanche Trust into a publicly traded spot ETF on Nasdaq. Grayscale said that the proposed ETF will be structured to mirror the price of AVAX. The asset manager clarified that the trust will not use leverage, derivatives, or any complex trading strategy. It is worth noting that Coinbase has been tapped to provide brokerage and custody services. Similarly, BNY Mellon would act as an administrator and transfer agent. In March, VanEck also filed for an Avalanche ETF , aiming to provide direct exposure to the smart contract platform. The post Bitwise Seeks Approval for Spot Chainlink ETF in Latest SEC Filing appeared first on TheCoinrise.com .
