- Bitwise filed with the SEC to launch the first U.S. spot Chainlink (LINK) ETF.
- Coinbase Custody named as custodian, with the ETF set to track CME’s LINK benchmark rate.
- Success of Bitcoin and Ethereum ETFs is fueling expansion into altcoins like Solana, NEAR, and now Chainlink.
Bitwise Asset Management is back knocking on the SEC’s door, this time with an S-1 filing dated Aug. 26, 2025, for what could become the first U.S. spot Chainlink (LINK) ETF. The proposal aims to give investors a way to gain exposure to LINK through regulated markets, without the hassle of direct custody. Instead, the product will track the CME CF Chainlink–Dollar Reference Rate, offering a benchmark-backed price feed.
Coinbase to Handle Custody
According to the filing, Coinbase Custody Trust Company is being lined up as custodian for the ETF, reinforcing the trend of big U.S. players teaming up on crypto-backed financial products. The move comes right after Bitcoin and Ethereum ETFs secured long-awaited approvals in 2024, and it shows how quickly asset managers are racing to diversify beyond the two flagship cryptos.
Beyond BTC and ETH
Bitwise has already tested the waters with filings tied to Solana and NEAR Protocol, and the LINK application signals a broader bet: that investors are hungry for exposure to altcoins through traditional wrappers. The timing may be perfect. Data from Blockworks shows Bitcoin ETFs pulling in nearly $78 billion in flows, while Ethereum ETFs trail at around $23 billion. Even Solana, despite all the buzz, has only captured $162 million.
Chainlink, with its reputation as the go-to oracle network for DeFi, could be the next token to make the leap into Wall Street’s mainstream ETF market.
