- Bitwise’s spot Chainlink ETF offers direct LINK exposure via NYSE Arca.
- The ETF trades as CLNK with a 0.34% fee and an early fee waiver.
- The ETF approval signals rising acceptance of altcoin ETFs in the US.
Bitwise Asset Management has received approval to list its Chainlink ETF on the NYSE Arca.
This launch opens a new avenue for US investors to gain exposure to Chainlink (LINK) without directly holding the cryptocurrency.
Trading for the ETF, which will carry the ticker CLNK, is expected to begin as soon as tomorrow.
The Bitwise Chainlink ETF
The Bitwise Chainlink ETF is a spot ETF, meaning it directly holds LINK tokens.
Therefore, investors can now participate in LINK’s potential upside through traditional brokerage accounts.
This approach eliminates the complexities of self-custody, private keys, and wallets that come with holding crypto directly.
Initially, the ETF will not offer staking services, but Bitwise plans to explore staking as a future feature.
In addition, the fund comes with a management fee of 0.34% annually, which is in line with many similar investment products.
To attract early investors, Bitwise will waive sponsor fees for the first three months on up to $500 million of assets under management.
This incentive is designed to encourage adoption and build liquidity in the ETF at launch.
A new chapter for crypto ETFs
The approval of the Chainlink ETF reflects growing regulatory acceptance of cryptocurrency-based financial products.
It follows a broader trend of institutional investors seeking regulated exposure to alternative cryptocurrencies beyond Bitcoin and Ethereum.
By listing on the NYSE Arca, Bitwise ensures the ETF meets strict regulatory standards and offers a familiar investment framework.
The market response has been positive, with LINK prices experiencing a boost as investor sentiment rises.
This development may also set the stage for other altcoin ETFs to enter the US market in the near future.
Investors now have a streamlined way to add Chainlink to their portfolios through a regulated vehicle.
Moreover, the ETF’s fee incentives and potential staking features make it an attractive option for both retail and institutional participants.
The approval of CLNK is particularly significant because it highlights the growing acceptance of altcoins in mainstream finance.
It demonstrates that regulators are willing to permit direct investment in specific cryptocurrencies via structured products.
This move also bridges the gap between the crypto market and traditional finance, providing a more secure and accessible entry point.
As investors monitor the ETF’s performance, the broader crypto ecosystem may experience a ripple effect.
For Chainlink, this listing could increase adoption and market interest, potentially impacting token liquidity and price discovery.
At press time, Chainlink’s native token LINK was already up 5.15%, trading at $13.91, showing the ETF approval has had a positive impact on the altcoin.
