Bitwise Gets Approval for Spot Chainlink ETF as LINK Price Surges Over 11%

Crypto asset manager Bitwise has received approval to list its spot Chainlink ETF on NYSE Arca under the ticker symbol CLNK, with the launch expected this week.

Bitwise filed Form 8-A with the U.S. Securities and Exchange Commission on January 5, securing approval for its ETF. The fund gives investors direct exposure to Chainlink (LINK) through a regulated exchange-traded product.

To attract early institutional and retail investors, Bitwise extended its full management fee waiver—covering up to $500 million in assets under management, from one month to three months. The ETF charges a 0.34% management fee, with Coinbase Custody serving as the crypto custodian and BNY Mellon handling cash custody.

For the launch, Bitwise Investment Manager LLC will purchase the initial creation baskets, totaling $2.5 million for 100,000 shares priced at $25 each. The ETF also includes LINK staking as a secondary investment objective, although Bitwise has not yet disclosed specific staking details.

Chainlink ETFs Gain Momentum as Bitwise Eyes Staking

If Bitwise enables staking in the future, it plans to use Attestant Ltd as the staking agent. This could generate yields for investors, making the product more attractive to long-term holders beyond simple price exposure.

The approval comes as Chainlink-related investment products gain strong momentum. On Monday, investors poured $2.24 million into the Grayscale Chainlink ETF (GLNK), bringing total inflows to $62.22 million and assets under management above $87 million.

Grayscale also waived its 0.35% management fee for three months or until the fund reaches $1 billion in AUM, increasing competition in the space. Investors have responded positively, driving LINK up more than 11% over the past week, with the token trading around $13.86 at the time of reporting.