Key Takeaways:
- Bitwise’s spot Chainlink ETF appears on DTCC registry under ticker CLNK.
- SEC approval and Form 8-A filing are still pending.
- Market volatility continues, but altcoins like Solana show resilience.
- ETF launch would mark a key milestone in institutional altcoin adoption.
Bitwise’s proposed spot Chainlink (LINK) exchange-traded fund (ETF) has appeared on the Depository Trust and Clearing Corporation (DTCC) registry, a key milestone suggesting the fund could be close to launching. While SEC approval is still pending, the move is attracting attention from investors looking for regulated exposure to Chainlink.
DTCC Listing Marks a Significant Step
The DTCC, one of Wall Street’s core post-trade infrastructure platforms, handles clearing, settlement, and record-keeping for financial transactions. The appearance of Bitwise’s ETF under ticker CLNK in the DTCC’s “active” and “pre-launch” categories historically signals that a product is nearing trading approval.
Bitwise has yet to file its Form 8-A, a critical step required for an ETF to officially list. The firm initially filed its Form S-1 in August, outlining plans for an ETF that tracks Chainlink, the decentralized oracle network token providing real-world data to smart contracts.
Also Read: XRP Scarcity Alert: ETFs Set to Reshape Market Dynamics
Regulatory Environment and ETF Competition
The ETF listing comes amid a wave of delayed spot crypto ETFs. The ongoing US government shutdown, now in its 42nd day, has slowed SEC operations. Analysts expect a resolution to restore full agency functionality, potentially accelerating ETF approvals under the SEC’s new generic listing standards introduced in September.
Grayscale is also pursuing a spot Chainlink ETF, though its plan to integrate staking may face greater scrutiny from regulators. Should Bitwise secure approval, its ETF would become one of the first US-listed funds offering exposure to a decentralized oracle network, advancing the institutionalization of altcoin investments.
Market Context: Crypto Outflows Amid Volatility
Institutional crypto funds have seen significant outflows, totaling $1.17 billion last week amid renewed market volatility. Bitcoin and Ethereum led withdrawals, while select altcoins like Solana attracted inflows, signaling selective investor confidence. Trading volumes in crypto ETPs remained robust at $43 billion, reflecting continued market activity despite bearish trends.
Also Read: Crypto Market Hit by $795M Weekly Outflows Amid Trump Tariff Turmoil
Nearing a Milestone for Altcoin ETFs
The DTCC listing represents a clear signal that Bitwise’s spot Chainlink ETF is moving closer to a potential US launch. For investors seeking regulated altcoin exposure, this ETF could provide a new gateway into the decentralized oracle ecosystem, particularly as broader crypto ETF approvals gain momentum.
