In brief
- Bitwise has filed with the SEC for a Chainlink ETF that would directly hold LINK tokens, using Coinbase Custody as the custodian.
- The ETF would offer in-kind creation and redemption, allowing investors to exchange LINK tokens directly for shares.
- LINK traded around $24.27 following the news, down 1.1% amid broader crypto market weakness.
Crypto asset manager Bitwise has filed to offer a Chainlink ETF which would directly hold LINK, the oracle network’s native token, according to a new SEC filing.
The filing doesn’t yet include a prospective ticker, but does say that the tokens backing shares would be held with Coinbase Custody Trust Company. This is the same custodian used by many of the largest U.S.-listed crypto ETFs, including BlackRock’s iShares Bitcoin Trust and iShares Ethereum Trust.
The ETF would allow for in-kind creation and redemption, meaning that investors could buy shares with LINK and receive the token when they s
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Author: Stacy Elliott
