Bitwise Files First Chainlink ETF With SEC Review Underway

The Bitwise Filing for a Chainlink ETF on August 26 feels like one of those quiet but significant milestones for the crypto market. After years of speculation, we finally have a formal S-1 registration with the SEC for a spot ETF tied directly to Chainlink. It’s not a rumor or a side note in a multi-asset product anymore. This is a dedicated filing, with Coinbase Custody holding the underlying tokens and Coinbase Prime handling execution for creations and redemptions.

Chainlink ETF Mirrors Bitcoin and Ethereum Products

The structure mirrors what we saw with the spot Bitcoin and Ethereum ETFs that went live earlier. The Chainlink ETF would track the dollar price of LINK through the CME CF reference rate, with in-kind and cash share creation. That detail matters because it gives institutions more flexibility to transact in whichever form fits their portfolio. It also signals the SEC is willing to treat Chainlink the same way it now treats larger assets, which wasn’t the case just a couple of years ago.

SEC Review and Regulatory

The SEC Review will be the real test. Even with the friendlier posture under the current administration, approval isn’t automatic. There’s still regulatory uncertainty around altcoins, and LINK has seen its share of volatility. But Bitwise has chosen the most straightforward design: 100 percent LINK holdings, a single custodian, and a fee structure that the sponsor can even temporarily waive. That simplicity might help the case.

Chainlink Products Show Existing Demand

For context, Europe already has multiple LINK products like the 21Shares Chainlink ETP and VanEck’s version. They’ve shown there’s demand. What’s different here is the scale of the U.S. market and the timing. Crypto ETFs globally have already pulled in nearly $30 billion this year, with assets over $150 billion. Adding a Chainlink ETF to that mix could open the door for serious institutional capital, especially as LINK continues to secure more of DeFi’s infrastructure. That is around 68 percent of the total value today.

Market Impact of Chainlink ETF

The Crypto Market impact goes beyond price action, though analysts will be quick to project price targets. It’s about legitimacy. Chainlink is already integrated with banks, asset managers, and even central banks through partnerships with groups like Swift, UBS, and the Central Bank of Brazil. A U.S.-listed Spot ETF is the missing piece that lets traditional investors hold LINK exposure through brokerage accounts, without worrying about custody or compliance.

In the bigger picture, the filing reinforces a trend: single-asset Spot ETFs moving beyond Bitcoin and Ethereum. If the SEC clears this, it sets a precedent for other tokens with strong fundamentals and institutional use cases. And that’s why the Bitwise Filing matters.