Bitwise Chainlink ETF has been approved for listing on NYSE Arca, set for tomorrow.
Key receivers
Bitwise Chainlink ETF gets approval to list on NYSE Arca. Trading for ETFs can start as soon as tomorrow.
Share this article
Bitwise's Chainlink ETF has been cleared for listing on NYSE Arca following regulatory approval. The product is likely to start trading from tomorrow.
The Bitwise Chainlink ETF, the 20th largest crypto asset by market capitalization, is designed to give investors exposure to the asset without owning or managing tokens through a traditional brokerage account.
The fund will hold LINK directly, shares will trade on the NYSE Arca under the ticker CLNK. It is not involved in height; However, Bitwise plans to seek permission to add staking as a secondary purpose in the future, allowing the trust to acquire more LINK over time.
The ETF charges a management fee of 0.34%. In the first three months after listing, Bitwise will waive the entire sponsorship fee on the first $500 million in assets, temporarily reducing costs for early investors.
Chainlink is a decentralized blockchain network that allows smart contracts on the blockchain to securely interact with external data sources and off-chain systems.
LINK was trading at $14 at press time, up 7.5% in the last 24 hours on CoinGecko. The gains followed a market-wide rally that lifted bitcoin to $96,000 earlier today.
The Bitwise Chainlink ETF is the second US spot fund affiliated with LINK, approved shortly after Grayscale converted Chainlink Trust into a spot ETF ( GLNK ) late last month. GLNK's recently announced fund reached $87.5 million in assets.
