Bitwise’s proposed Chainlink exchange-traded fund (ETF) has moved a step closer to launch after being added to the Depository Trust & Clearing Corporation (DTCC) registry under the ticker CLNK.
The listing, marked as both active and pre-launch, indicates that preparations are underway for its debut once the U.S. Securities and Exchange Commission (SEC) grants final approval.
DTCC Listing Sparks Optimism for Chainlink ETF Approval
While DTCC listings do not guarantee regulatory clearance, they often precede official approval. The ETF aims to track Chainlink (LINK), the native token that powers Chainlink’s decentralized oracle network, connecting smart contracts to real-world data feeds.
This marks a major milestone for Bitwise, one of America’s leading crypto asset managers, which filed its Form S-1 with the SEC in August and is expected to follow up with Form 8-A, the last step before the ETF can trade on U.S. exchanges.
The progress comes amid a prolonged U.S. government shutdown, now in its sixth week, which has stalled dozens of pending crypto ETF applications. However, optimism is growing after the Senate passed a bill to reopen government operations, potentially expediting long-delayed ETF reviews.
Chainlink’s Expanding Institutional Footprint
If approved, the Bitwise Chainlink ETF would become the first U.S. fund offering institutional exposure to a decentralized oracle network, a critical infrastructure in the decentralized finance (DeFi) ecosystem.
Chainlink provides real-time, tamper-proof data to smart contracts, enabling the automation of payments, lending, and asset management across blockchain platforms.
Analysts suggest that such an ETF could not only expand investor access to LINK but also solidify Chainlink’s position as a cornerstone of Web3 infrastructure.
The move follows Bitwise’s growing portfolio of altcoin ETFs, including funds tracking Solana, XRP, Dogecoin, and Aptos, while competitors like Grayscale are also seeking approval for a similar Chainlink ETF that includes staking features, a structure that may face additional regulatory hurdles.
Market Reactions and the Road Ahead
Despite the bullish regulatory signal, LINK prices slipped 2%, trading around $15.75 after failing to hold above the $17.40 resistance level. Analysts note that broader crypto market weakness and heavy derivatives sell-offs have overshadowed the positive ETF news.
Still, industry observers see the DTCC listing as a key sign of maturing infrastructure for crypto-based financial products.
Once the U.S. government fully reopens and the SEC resumes full operations, the Bitwise Chainlink ETF (CLNK) could lead a new wave of altcoin ETFs into the U.S. market, supporting the growing institutional appetite for blockchain-linked assets and bringing DeFi innovation closer to Wall Street.
Cover image from ChatGPT, LINKUSD chart from Tradingview
