Bitwise’s proposed spot Chainlink ETF has been listed by the Depository Trust and Clearing Corporation (DTCC) under the ticker CLNK, indicating the fund is technically prepared for trading. This move marks a significant step toward the ETF’s potential launch, pending approval from the U.S. Securities and Exchange Commission (SEC).
While the DTCC listing does not guarantee SEC authorization, it signals that necessary back-end systems are in place for the ETF to begin trading once regulatory clearance is granted. The development adds momentum to the growing number of crypto-based ETFs advancing in U.S. markets.
DTCC Listing Signals Imminent ETF Launch
The DTCC’s inclusion of Bitwise’s Chainlink ETF in its “active and pre-launch” registry suggests the fund is ready for technical settlement and trading. DTCC plays a critical role in clearing and settling securities transactions, and its preparation of the CLNK ticker indicates operational readiness.
Bitwise initially filed its Form S-1 registration statement with the SEC in August, outlining plans for the ETF to track the price of LINK, the native token powering Chainlink’s decentralized oracle network. Chainlink enables blockchains to access off-chain real-world data, supporting smart contract functionality.
Unlike Grayscale’s competing Chainlink ETF proposal, which includes staking LINK tokens, Bitwise does not plan to stake the underlying assets. Bitwise has yet to file a Form 8-A, a final step typically submitted shortly before an ETF launch, but analysts expect this filing soon.
Altcoin ETFs Gain Traction Including XRP
The progress of Bitwise’s Chainlink ETF coincides with increased ETF filings for other altcoins. Canary Capital recently filed a Form 8-A for its spot XRP ETF, suggesting a possible launch within days.
Bloomberg ETF analyst Eric Balchunas noted, “Canary filed 8A for XRP ETF last night, which points to launch tomorrow or Thursday. Not done deal but all boxes being checked.” The DTCC also lists five spot XRP ETFs from Bitwise, Franklin Templeton, 21Shares, Canary, and CoinShares, reflecting a broader trend of altcoin ETFs gaining regulatory momentum following products for Litecoin, Solana, and Hedera.
SEC Rule Changes Could Speed ETF Approvals
The surge in crypto ETF activity follows the SEC’s introduction of generic listing standards in September, designed to accelerate ETF approvals by reducing case-by-case reviews. However, a prolonged U.S. government shutdown has slowed the SEC’s operations, delaying some approvals.
Despite these challenges, firms continue filing ETF proposals for tokens such as Dogecoin, Aptos, and Avalanche, aiming to meet growing investor demand for regulated crypto exposure.
