The post Bitwise Chainlink ETF Nears Launch After DTCC Listing appeared first on Coinpedia Fintech News
Bitwise’s long-awaited Chainlink ETF appears to be on the verge of launch after debuting on the Depository Trust and Clearing Corporation (DTCC) registry under the ticker CLNK. The ETF is listed under both “active” and “pre-launch” categories often a strong indicator that the product is approaching market readiness.
While this does not yet guarantee final approval from the U.S. Securities and Exchange Commission (SEC), it signals that Bitwise has entered the final stages of preparation. The DTCC, which manages post-trade settlements and ensures ETFs’ operational readiness before trading, plays a critical role in confirming that products are structurally sound before they hit the market.
Bitwise’s Final Step: SEC Form 8-A Filing
Bitwise has not yet filed its Form 8-A, the final document required before trading can begin. However, such filings typically follow soon after a DTCC appearance, implying that the CLNK ETF launch could be imminent.
The firm initially submitted its Form S-1 with the SEC in August, outlining the fund’s objective to track Chainlink (LINK), the decentralized oracle network token that connects real-world data to blockchain-based smart contracts.
Grayscale Chainlink ETF Faces Added Scrutiny with Staking Feature
Bitwise faces competition from Grayscale, which has also filed for a spot Chainlink ETF. However, Grayscale’s proposal includes a staking component, allowing investors to earn rewards through network participation. This feature could invite tougher regulatory scrutiny, as the SEC has long viewed staking as a potential securities concern.
As a result, Grayscale’s timeline for approval may face delays compared to Bitwise’s more conventional, non-staking approach, potentially giving Bitwise a first-mover advantage in the Chainlink ETF race.
SEC Delays Persist Amid Ongoing U.S. Government Shutdown
Despite the growing optimism, progress on ETF approvals has slowed due to the U.S. government shutdown, now extending beyond its 42nd day. Although the Senate has passed a bill to end the shutdown, regulatory reviews have been delayed, stalling dozens of pending crypto ETF applications.
Nevertheless, asset managers continue filing for new funds tied to top altcoins such as Dogecoin (DOGE), Solana (SOL), Avalanche (AVAX), and Hedera (HBAR). This momentum follows the SEC’s introduction of generic listing standards, designed to simplify and accelerate the approval process for future crypto ETFs.
Chainlink (LINK) Price Drops Despite Bullish ETF Signal
Despite Bitwise’s DTCC listing being seen as a bullish signal, Chainlink (LINK) fell 5% to $15.52, reflecting cautious market sentiment amid broader crypto weakness. The token is down nearly 19% this month, though trading volumes from both retail and institutional investors have continued to rise.
If approved, the Bitwise Chainlink ETF (CLNK) could mark a significant milestone for the industry, boosting liquidity, institutional confidence, and expanding the spot crypto ETF market beyond Bitcoin and Ethereum.
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FAQs
The Bitwise Chainlink ETF (CLNK) is a proposed fund that tracks Chainlink’s price, giving investors exposure to LINK without directly owning it.
DTCC listing signals the ETF is close to launch, showing it’s technically ready for trading once the SEC grants final approval.
Bitwise’s ETF excludes staking, offering a simpler structure. Grayscale’s version includes staking rewards, which may slow SEC approval.
A Chainlink ETF could boost LINK demand by attracting institutions, but short-term prices may still move with broader crypto trends.
