Grayscale to launch US’s first spot Chainlink ETF via trust conversion
Grayscale is expected to launch the US's first spot Chainlink ETF this week by converting its existing Chainlink private trust.Summary
Crypto asset management firm Grayscale is reportedly set to launch the first spot Chainlink exchange-traded fund (ETF) in the US this week, according to ETF Institute co-founder Nate Geraci. This launch involves converting Grayscale's existing Chainlink private trust into an ETF, a process similar to other products from the firm. Bloomberg Intelligence analyst Eric Balchunas had previously estimated a launch date around December 2nd. The product aims to generate returns by tracking the spot price of LINK and returns from staking LINK. This development follows a recent trend of increased approvals for crypto ETFs in the US, attributed partly to changes in SEC leadership, which has also seen spot XRP and DOGE ETFs launched by Grayscale last month. Grayscale views the Chainlink ecosystem as a "critical connective tissue" between crypto and traditional finance.
(Source：Cointelegraph)