All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- The Depository Trust & Clearing Corporation (DTCC) has officially listed the Bitwise Chainlink Exchange-Traded Fund (ETF) in its active and pre-launch categories.
- While this appears to be a positive development, experts have noted that it does not guarantee approval from the US Securities and Exchange Commission (SEC).
Speculations for the imminent launch of multiple spot Exchange Traded Funds (ETFs) in the US have taken a different turn as Bitwise’s spot Chainlink (LINK) ETF officially gets listed under the “active and pre-launch” category of the Depository Trust and Clearing Corporation (DTCC) website. The price of LINK has surged 4% on its weekly chart.
More About Chainlink ETF Listing on DTCC
It was detailed in our earlier publication that Bitwise submitted the preliminary S-1 to the US Securities and Exchange Commission (SEC) in August to launch a regulated Chainlink product that seeks to track the price of its native token.
In the filing, Coinbase Custody Trust Company was proposed as the Custodian of the fund, while Coinbase Inc. was mentioned as the primary execution agent. Also, the Trust was said to facilitate “in-kind and cash transactions through the Trust-Directed Trade process”.
Most importantly, the proposal has no plans to stake Link tokens, unlike the Grayscale Chainlink ETF, which proposed to stake a portion of the asset, as mentioned in our previous news story.
Its listing on the website was done under the ticker symbol (CLNK). While many believe that the latest listing of Bitwise Chainlink ETF on DTCC offers a major boost to its ETF journey, others argue that this does not guarantee approval from the SEC.
The official approval of the Chainlink ETF is believed to turn the asset into the next major institutional obsession. Bitwise is reported to be making an attempt to bridge the gap between regulated markets and decentralized infrastructure. To make this effective, the Bitwise Chainlink ETF is expected to rely on the CME CF Chainlink–Dollar Reference Rate (New York Variant).
The Trust is passively managed and does not pursue active management investment strategies, and the Sponsor does not actively manage the Chainlink held by the Trust.
Meanwhile, the DTCC has recently been making moves on some of these altcoin ETFs with XRP products from Bitwise, Franklin Templeton, 21Shares, Canary, and CoinShares already listed on its pre-launch category.
The Altcoin ETFs Update
Recently, CNF reported that the SEC has approved the launch of spot ETFs for Litecoin, Solana, and Hedera after months of delays. XRP is reported to be the next in line as Canary Capital recently filed an 8-A form, a move said to be the final regulatory step.
According to Bloomberg ETF analyst Eric Balchunas, the XRP ETF could receive approval either today or tomorrow (November 12 or 13), as also confirmed in our recent news coverage.
Canary filed 8A for XRP ETF last night, which points to launch tomorrow or Thursday. Not a done deal, but all boxes are being checked. Stay tuned.
