• Bitwise, Grayscale, and Tuttle Capital filed Chainlink ETF applications, reflecting growing institutional interest.
• Bitwise’s filing is the first U.S. spot Chainlink ETF, using in-kind creation and Coinbase Custody.
• Tuttle Capital’s 2x leveraged ETF targets aggressive investors, amplifying Chainlink’s daily performance through swaps.

In recent weeks, three financial firms have filed applications for Exchange Traded Funds (ETFs) linked to Chainlink. According to a post on X by Tim Warren, Bitwise Asset Management, Grayscale Investments, and Tuttle Capital Management have each proposed products that cater to different investor needs. 

These filings, made in 2025, reflect a growing interest in incorporating Chainlink into traditional investment vehicles, especially for institutional investors. As the U.S. government prepares to reopen, these applications could soon go live, offering new liquidity to the market.

Bitwise Asset Management’s Spot Chainlink ETF

Bitwise Asset Management made its filing for a spot Chainlink ETF on August 26, 2025. This filing stands out as the first U.S. spot Chainlink ETF. The ETF will utilize in-kind creation and redemption processes, a feature that allows for the direct exchange of the ETF for the underlying Chainlink assets. This structure helps prevent taxable events and enhances liquidity. Coinbase Custody will act as the custodian, ensuring secure storage and management of the digital assets.

Grayscale Investments’ Chainlink Trust Conversion

Grayscale Investments followed with a filing on September 8, 2025. This product differs from Bitwise’s ETF as it seeks to convert the existing Grayscale Chainlink Trust (listed as GLNK on NYSE Arca) into a spot ETF. The conversion aims to provide more flexible cash creations and redemptions. It could also feature a staking mechanism, allowing investors to earn rewards by participating in the Chainlink network. Like Bitwise’s filing, Coinbase Custody will serve as the custodian for this ETF.

Tuttle Capital Management’s 2x Leveraged ETF

Tuttle Capital Management, which has a reputation for its leveraged ETFs, submitted a request for a 2x leveraged Chainlink ETF on January 28, 2025. This new ETF will monitor the daily performance of Chainlink at 200% via the use of swaps and options. It is, nevertheless, part of a comprehensive plan that involves the creation of various leveraged altcoin ETFs which will cater to the more daring investors seeking a stronger exposure to the crypto markets. On the contrary, these ETFs are notorious for their increased risk since the daily resetting aspect is meant to provide enhanced returns only.

Market Impact and Outlook

The applications submitted by Bitwise, Grayscale, and Tuttle Capital mark a turning point in the interaction between institutional investors and cryptocurrency markets. It is generally expected that the approval of these ETFs will result in the creation of new trading possibilities and the attraction of capital into the Chainlink ecosystem.
Although the current U.S. government shutdown may cause a delay in the approval process for these ETFs, their eventual launch can transform the investor exposure to Chainlink in the market. Moreover, it can lead to a significant increase in the adoption and trading volume of the Chainlink market due to the presence of these products.

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