 
 
The first U.S.-listed exchange-traded fund tracking the value of Chainlink’s native token, LINK, went live on the New York Stock Exchange on Tuesday. The launch sent the LINK price soaring by double digits as investors celebrated the development.
First Spot LINK ETF Enters US Market
Grayscale Investments listed its Grayscale Chainlink Trust ETF with the ticker symbol GLNK on NYSE Arca, a subsidiary of the NYSE Group.
The ETF gives investors regulated access to Chainlink via traditional brokerage accounts. It’s the first ETF in the United States tracking LINK, and it is under the Investment Company Act of 1940.
Chainlink operates as an oracle network that connects blockchains to external data and is widely adopted by national governments, leading decentralized finance protocols, and top financial institutions.
“Chainlink’s decentralized oracle network is setting the market standard for verifiable data and cross-chain connectivity that underpins tokenization and DeFi across public blockchains,” Inkoo Kang, the senior vice president of ETFs at Grayscale, posited in a statement. “With GLNK, investors can gain exposure to this foundational infrastructure in the familiar ETP wrapper.”
 
Like several other of the asset manager’s ETFs, the Grayscale Chainlink Trust will be a conversion of the firm’s existing private placement LINK trust into an ETF structure, five years after it was established in 2020.
Pro-crypto SEC Chairman Paul Atkins, taking the helm this year, has seen the floodgates open for crypto-focused ETFs in the US, with funds tied to assets like Solana, Ripple’s XRP, and Dogecoin all getting approved for trading.
Bitwise is another issuer that has a spot Chainlink ETF in the works.
LINK is currently the 19th-largest crypto by market cap, according to CoinGecko data. The token rose 12.5% over the last 24 hours on the ETF news, trading hands at $13.39 as of press time. LINK, however, remains 74.6% away from its historic all-time high of $52.70, which was set back in May 2021.