Important points
- Bitwise Chainlink ETF receives approval for listing on NYSE Arca.
- ETF trading could begin as early as tomorrow.
Bitwise’s Chainlink ETF has received regulatory approval to be listed on NYSE Arca. The product could start trading as early as tomorrow.
The Bitwise Chainlink ETF is designed to provide investors with exposure to the price of Chainlink (link) is the 20th largest crypto asset by market capitalization and is done through traditional brokerage accounts aimed at lowering operational and custody barriers for investors who wish to gain exposure to the asset without holding or managing the tokens themselves.
directly held by the fund linkthe stock will trade on the NYSE Arca under the ticker CLNK. It does not involve staking. However, Bitwise plans to seek approval to add staking as a secondary objective in the future, which could potentially allow the trust to earn additional revenue. link over time.
The ETF has a management fee of 0.34%. For the first three months after listing, Bitwise will waive all sponsorship fees for the first $500 million in assets, temporarily reducing costs for early investors.
Chainlink is a decentralized oracle network that allows smart contracts on the blockchain to securely interact with external data sources and off-chain systems.
link At the time of writing, it was trading at $14, up 7.5% in the past 24 hours, according to CoinGecko. This rally follows a market-wide rally that lifted Bitcoin to $96,000 earlier today.
Bitwise Chainlink ETF is the second spot fund to partner with the US. linkwas approved late last month shortly after Grayscale converted Chainlink Trust into a spot ETF (GLNK). According to the latest disclosure, the GLNK Fund’s assets amount to $87.5 million.
