The crypto market is buzzing as Bitwise files for a Chainlink ETF, a groundbreaking move for this altcoin. Will this announcement attract institutional capital to LINK and push its price to $60? Unveil the implications, opportunities, and risks of this potential revolution for Chainlink.
Bitwise Asset Management has just filed an application with the SEC to launch a new exchange-traded fund (ETF). This fund focuses exclusively on the native token of the Chainlink platform. According to the filing, the fund would use Coinbase Custody as its custodian and facilitate in-kind creation and redemption of LINK. This allows investors to buy and sell shares directly with the token.
Details such as the fund’s ticker, the chosen exchange platform, and management fees have not yet been disclosed. This initiative marks a historic milestone for US ETFs. Indeed, no product of this type has previously been proposed to track the price of LINK.
If the SEC approves Bitwise’s Chainlink ETF, it could legitimize institutional demand for LINK. This token has until now been primarily influenced by retail investors and the decentralized finance (DeFi) market.
Indeed, the ETF would give access to LINK for players such as pension funds, hedge funds, and other large institutional investors in a conventional, compliant investment format. Analysts estimate this could increase the token’s liquidity and exert upward pressure on prices. This would occur as institutional demand increases.
The market has already reacted positively to the announcement. On the day of the filing, the price of LINK rose 5% from an intraday low of $22.94, reflecting investor optimism about the potential impact of the ETF. Currently, the token is trading at $24.29, recording gains of 3.68% in just 24 hours.
Several ETFs centered on altcoins are still awaiting SEC approval, with some decisions even being postponed until October 2025. In this context, Bitwise’s filing for a Chainlink ETF comes at a key moment for LINK.
The project recently concluded a high-level partnership with SBI Holdings in Japan. This should unlock innovative use cases, such as the tokenization of real-world assets and the use of Chainlink’s oracle technology to verify on-chain stablecoin reserves.
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