Grayscale Launches First US Chainlink ETF on NYSE Arca

Source: CryptoNewsNet Original Title: Grayscale Launches First US Chainlink ETF on NYSE Arca Original Link: Grayscale launched its Grayscale Chainlink Trust ETF (GLNK) on NYSE Arca on Tuesday, becoming the first spot Chainlink exchange-traded product to reach the U.S. market.

The conversion shifts the vehicle from a private trust into an ETF holding Chainlink’s native cryptocurrency, LINK, as its sole asset, following an amended S-1 filed last month that set the structure for the newly listed product.

Grayscale stated that Chainlink was a natural candidate for an ETF wrapper given the company’s longstanding support of the Chainlink oracle network and the trust’s operation as a private fund since 2021. The debut marks Grayscale as “the first to offer ETF access to the world of blockchain oracles,” helping investors “engage more directly with this critical layer of blockchain infrastructure.”

Chainlink operates an oracle network “designed to connect smart contracts on any blockchain to real-world data, events and off-chain computation.” The network “serves as infrastructure for synchronizing on-chain and off-chain information.”

Grayscale’s debut for its Chainlink ETF follows the same trust conversion pathway used in its DOGE and XRP ETF launches late last month, which began trading on NYSE Arca after clearing similar procedural steps.

Cash-only models require authorized participants to handle more of the buying and selling themselves, which can result in wider bid-ask spreads when a new ETF first starts trading.

The SEC’s new listing standards, approved in September, played a key role in enabling the asset manager to launch the product. Grayscale was able to rely on a pathway outlined by the SEC to submit their filing for GLNK despite the government shutdown, which triggered a 20-day window at the end of which the product became automatically effective.

GLNK closed its launch day at $11.89, up 5.8%, with after-hours trading lifting it to approximately $12. Volume reached 1.17 million shares, far above its average of roughly 42,000, indicating outsized first-day interest and active price discovery as the newly listed ETF transitioned from OTC markets to NYSE Arca.

Grayscale reported seeing “enthusiasm from a range of investors,” while secondary market activity appears to align with that sentiment.