Bitwise Chainlink ETF Nears Launch After DTCC Listing

Bitwise’s long-awaited Chainlink ETF appears to be on the verge of launch after debuting on the Depository Trust and Clearing Corporation (DTCC) registry under the ticker CLNK. The ETF is listed under both “active” and “pre-launch” categories, often a strong indicator that the product is approaching market readiness.

While this does not yet guarantee final approval from the U.S. Securities and Exchange Commission (SEC), it signals that Bitwise has entered the final stages of preparation. The DTCC, which manages post-trade settlements and ensures ETFs’ operational readiness before trading, plays a critical role in confirming that products are structurally sound prior to hitting the market.

Bitwise’s Final Step: SEC Form 8-A Filing

Bitwise has not yet filed its Form 8-A, the final document required before trading can commence. However, such filings typically follow soon after a DTCC appearance, implying that the CLNK ETF launch could be imminent.

The firm initially submitted its Form S-1 with the SEC in August, outlining the fund’s objective to track Chainlink (LINK), the decentralized oracle network token that connects real-world data to blockchain-based smart contracts.

Grayscale Chainlink ETF Faces Added Scrutiny with Staking Feature

Bitwise faces competition from Grayscale, which has also filed for a spot Chainlink ETF. However, Grayscale’s proposal includes a staking component, allowing investors to earn rewards through network participation.

This feature could invite tougher regulatory scrutiny, as the SEC has long viewed staking as a potential securities concern. As a result, Grayscale’s timeline for approval may face delays compared to Bitwise’s more conventional, non-staking approach. This potentially gives Bitwise a first-mover advantage in the Chainlink ETF race.

https://bitcoinethereumnews.com/tech/bitwise-chainlink-etf-nears-launch-after-dtcc-listing/