Bitwise files for first Chainlink ETF in U.S., aiming to provide regulated altcoin exposure amid growing institutional interest in decentralized finance.
Bitwise Asset Management filed a new S-1 registration with the U.S. Securities and Exchange Commission (SEC) on August 26, 2025. The firm seeks approval to launch the first U.S.-based spot Chainlink ETF. This product would track the price of Chainlink (LINK), the token that powers a decentralized oracle network used widely in crypto applications.
It is a significant move in the crypto industry. It is an indication that there is more progress being made towards the introduction of regulated exposure to altcoins other than to Bitcoin and Ethereum. The proposed ETF will allow investors to access LINK by using the traditional investment interface, eliminating the technical obstacles associated with self-custody or on-chain transactions.
In order to have safe storage of assets, the ETF will resort to Coinbase Custody Trust Company. It will also follow the CME CF Chainlink-Dollar Reference Rate. The purpose of this benchmark is to represent the fair market value of LINK. Such a structure will address the issues of pricing inaccuracies and low transparency present in the older investment vehicles.
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Chainlink is a core technology in decentralized finance (DeFi), gaming, NFTs, and cross-chain platforms. It offers such tools as verifiable randomness, data feeds, and automated smart contract enforcement. Bitwise revealed that Chainlink has already seen tens of trillions of value pass through its infrastructure, thereby making a secure and compliant ETF based on its token extremely valuable.
This suggestion is the result of the recent approval of spot Bitcoin and Ethereum ETFs by the SEC. This has led to an improvement in the market environment, in terms of attitudes toward crypto-based financial products. Bitwise, with more than $15 billion in crypto assets under management, is looking to establish a wider range of ETFs that would cover a larger number of altcoins, including XRP, Solana and Dogecoin.
Notably, the SEC released updated ETF guidance in July 2025, simplifying the path for new crypto ETF applications. This new regulatory clarity could hasten the approval of Bitwise Chainlink ETF. If successful, it would be a great milestone towards the legitimization of altcoins to large-scale institutional investment.
In the past, efforts to provide Chainlink investment products have not been easy. The Grayscale Chainlink Trust, launched in 2021, suffered low liquidity and a poor price tracking. Bitwise is trying to address these problems through a more efficient, market-related ETF structure. More reliability would interest institutional investors.
The increased popularity in crypto ETFs is representative of the market. It raised 1.05 billion dollars earlier this year in a listing on the New York Stock Exchange, demonstrating the keen interest in crypto firms by investors. Bitwise thinks that Chainlink is a leading market participant that will make its ETF a favorite among altcoin-investment vehicles.
SEC has up to 240 days to consider the application and this implies that the final decision may be reached by the middle of 2026. Over this period, the crypto and financial world will be keen on the developments. The result may have implications in a future approval of altcoin ETFs.
On the whole, the filing by Bitwise is an indicator of the increasing institutional interest in altcoins. In case it is approved, the Chainlink ETF would be a significant achievement both to the firm and to the cryptocurrency market. It is a change of pace toward a more profound incorporation of decentralized technologies into the regulated finance ecosystem.
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