The long-awaited ETF on Chainlink from Bitwise may launch soon: the fund has appeared in the DTCC registry under the ticker CLNK. It is listed in both the “active” and “pending launch” categories — usually a reliable signal of an imminent market debut.
Although this does not yet mean final approval from the U.S. Securities and Exchange Commission (SEC), this step indicates that Bitwise is in the final stages of preparation. DTCC is the organization responsible for post-trade settlement and verifying ETF readiness. It plays a key role in ensuring the product is fully ready for launch and free of structural risks.
Bitwise’s last step — filing Form 8-A with the SEC
At this point, Bitwise has not yet filed Form 8-A — this is the final document required before trading can begin. However, such filings usually appear soon after the fund is registered with DTCC. The launch of the ETF under the ticker CLNK may happen very soon.
Bitwise first submitted Form S-1 to the SEC back in August. In it, the company described the fund’s goal: to track the performance of the Chainlink (LINK) token, which is a decentralized oracle network connecting real-world data to blockchain smart contracts.
Competition with Grayscale: ETF with staking feature may raise questions with the SEC
Bitwise will have to compete with Grayscale, which has also applied for a spot ETF on Chainlink. But unlike Bitwise, its proposal includes a staking option. Investors will be able to receive rewards for participating in the network. This feature may attract additional attention from regulators, since the SEC has long considered staking as a potential indicator of securities.
Because of this, review of Grayscale’s application may be delayed. Bitwise , on the other hand, has a more traditional structure without staking, which may give it a first-mover advantage and allow it to be the first to bring a ETF on Chainlink to market.
SEC review of applications delayed amid US government shutdown
Despite growing optimism, approval of crypto ETFs in the US is stalling due to the ongoing shutdown, which has lasted for more than 42 days. The Senate has already passed a bill to end the crisis, but regulatory procedures remain frozen. Dozens of crypto fund applications remain stagnant.
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Nevertheless, asset managers continue to file new applications. Now for funds tied to major altcoins like Dogecoin (DOGE), Solana (SOL), Avalanche (AVAX) and Hedera (HBAR). The wave of interest intensified after the SEC introduced universal listing rules designed to simplify and speed up the approval process for new crypto ETFs.
Chainlink price falls despite positive ETF signal
Although the listing of the Bitwise fund on DTCC was seen by many as a bullish signal, the price of Chainlink (LINK) fell by 5%, dropping to $15.52. This reflects the cautious mood of market participants amid a general crypto downturn. Since the beginning of the month, the token has lost nearly 19%, despite increased trading activity from both retail and institutional investors.
If the SEC approves the launch of the CLNK fund, it could be an important step for the industry: additional liquidity will appear, institutional investor confidence will be strengthened, and the spot crypto ETF market will expand beyond Bitcoin and Ether.
