Grayscale has filed with the SEC to convert its Chainlink Trust into a spot ETF, triggering bull activity and pushing LINK price up by 3% today.
By Bhushan Akolkar
Editor Hamza Tariq
Updated
2 mins read
As per the latest SEC filing submitted on September 8, crypto asset manager Grayscale is willing to convert its Chainlink Trust into a spot exchange-traded fund (ETF).
The asset manager filed a Form S-1 to convert the Grayscale Chainlink Trust (LINK) into the Grayscale Chainlink Trust ETF, set to trade on NYSE Arca under the ticker GLNK.
After the announcement, bullish momentum pushed LINK LINK $23.08 24h volatility: 3.6% Market cap: $15.65 B Vol. 24h: $856.74 M up 3%, breaking past the $23 mark.
As per the Form S-1 submitted to the US SEC, the proposal hinges on NYSE Arca’s generic listing standards for commodity-based ETPs, filed in July.
This could let certain crypto products get listed without needing individual SEC approval. If adopted, Grayscale expects its LINK Trust to meet the requirements.
The trust would hold LINK directly, with Coinbase Custody as custodian and BNY Mellon as administrator and transfer agent.
It would issue shares and redeem them in blocks of 10,000, initially only through cash transactions facilitated by third-party liquidity providers.
Subject to regulatory approval, Grayscale could introduce in-kind LINK transfers. The filing also leaves open the possibility of staking LINK, pending tax and regulatory clearance.
Grayscale is not alone in pursuing a Chainlink ETF. In August, Bitwise Asset Management also filed with the SEC for its own Chainlink-backed product.
Following the development, LINK price shot up by 3%, surging past $23 levels, with the daily trading volumes jumping by more than 54% to $815 million.
This shows a strong bullish sentiment among traders, with analysts giving a prediction of $35 or more.
On the technical chart, the LINK price is forming another bull flag pattern, following a previous breakout that delivered an 80% gain.
Analysts indicate that if the pattern repeats, the next upward move could push LINK’s price above $34, signaling continued bullish momentum.
looks like $LINK is cooking another bull flag rn.
First one sent it +80%… if it repeats, next leg takes it straight into $34+ territory. simple as that!
Time to assemble link marines.. pic.twitter.com/FevkCNjPcC
— Axel Bitblaze 🪓 (@Axel_bitblaze69) September 8, 2025
Amid its strong rally this year in 2025, LINK is becoming a dominant market player, ranking among the top 15 cryptocurrencies by market cap. As a result, corporate demand for LINK treasury has also been on the rise recently.
Recently, Nasdaq-listed real estate asset manager Caliber announced that its board has approved a digital asset treasury (DAT) strategy centered on acquiring Chainlink’s native token, LINK.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.