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Bitwise Submits S-1 Filing for Chainlink ETF

Bitwise Submits S-1 Filing for Chainlink ETF

Bitwise Asset Management has filed for SEC approval to launch a Chainlink ETF, which would be one of the first US ETFs focusing on an oracle network’s native token.

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Summary

Bitwise Asset Management has filed a preliminary prospectus with the U.S. SEC to launch a Chainlink ETF, which would directly hold LINK and track the CME CF Chainlink-Dollar Reference Rate. If approved, this would expand Bitwise’s portfolio of single-token crypto ETFs. Chainlink, a decentralized oracle network, underpins many decentralized applications across sectors such as DeFi and NFTs. LINK is currently ranked 13th in market capitalization, trading at approximately $23.

Terms & Concepts
  • ETF (Exchange-Traded Fund): An investment fund traded on stock exchanges, similar to stocks, that holds assets such as cryptocurrencies, commodities, or bonds.
  • Chainlink: A decentralized oracle network that enables smart contracts to securely interact with real-world data and external APIs.
  • CME CF Chainlink-Dollar Reference Rate: A reference rate that measures the value of Chainlink (LINK) in USD, used as a basis for various financial products, including the Bitwise Chainlink ETF.