Source: CryptoBriefing
Original Title: Bitwise Chainlink ETF approved to list on NYSE Arca, trading set for tomorrow
Original Link:
Bitwise’s Chainlink ETF has been cleared for listing on NYSE Arca following regulatory approval. The product could begin trading as early as tomorrow.
The Bitwise Chainlink ETF is designed to offer investors exposure to the price of Chainlink (LINK), the 20th largest crypto asset by market capitalization, through a traditional brokerage account that aims to lower operational and custody barriers for investors who want exposure to the asset without holding or managing tokens themselves.
The fund will directly hold LINK, with shares set to trade on NYSE Arca under the ticker CLNK. It will not engage in staking; however, Bitwise plans to seek approval to add staking as a secondary objective in the future, which could allow the trust to earn additional LINK over time.
The ETF charges a 0.34% management fee. For the first three months after listing, Bitwise will waive the full sponsor fee on the first $500 million of assets, temporarily reducing costs for early investors.
Chainlink is a decentralized oracle network that enables smart contracts on blockchains to securely interact with external data sources and off-chain systems.
LINK was trading at $14 at press time, up 7.5% in the last 24 hours. The gains follow a market-wide rebound earlier today that lifted Bitcoin to $96,000.
The Bitwise Chainlink ETF is the second US spot fund tied to LINK, approved shortly after a major fund manager converted its Chainlink Trust into a spot ETF (GLNK) late last month. The GLNK fund has reached $87.5 million in assets, per the latest disclosure.
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GateUser-c802f0e8
· 23h ago
Chainlink finally has an ETF now, bringing traditional finance and on-chain ecosystems closer together. Looks promising.
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RugDocScientist
· 01-14 17:56
Another ETF approval, this time for LINK... Traditional finance is still continuously "defending our name" for us.
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DefiPlaybook
· 01-14 06:50
Another ETF. It seems that Chainlink has finally gained recognition from the mainstream, so now you can confidently exploit institutional gains.
View OriginalReply0
GasFeeNightmare
· 01-14 06:44
Link finally listed on the ETF? Now the institutions have a new toy to play with.
View OriginalReply0
BearMarketNoodler
· 01-14 06:42
Another ETF approval, this time it's LINK. That's how the market works—when regulators loosen restrictions, liquidity follows.
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rekt_but_not_broke
· 01-14 06:42
Another ETF approved? Is traditional finance really slowly swallowing up crypto?
View OriginalReply0
Blockblind
· 01-14 06:40
Chainlink is about to take off again. Is this the SEC finally waking up?
View OriginalReply0
ReverseTrendSister
· 01-14 06:36
The link ETF has finally passed. It was about time, and institutional entry timing is in place.
View OriginalReply0
SelfRugger
· 01-14 06:32
Another ETF is launching, is it finally LINK's turn this time?
Bitwise Chainlink ETF approved to list on NYSE Arca, trading set for tomorrow
Source: CryptoBriefing Original Title: Bitwise Chainlink ETF approved to list on NYSE Arca, trading set for tomorrow Original Link: Bitwise’s Chainlink ETF has been cleared for listing on NYSE Arca following regulatory approval. The product could begin trading as early as tomorrow.
The Bitwise Chainlink ETF is designed to offer investors exposure to the price of Chainlink (LINK), the 20th largest crypto asset by market capitalization, through a traditional brokerage account that aims to lower operational and custody barriers for investors who want exposure to the asset without holding or managing tokens themselves.
The fund will directly hold LINK, with shares set to trade on NYSE Arca under the ticker CLNK. It will not engage in staking; however, Bitwise plans to seek approval to add staking as a secondary objective in the future, which could allow the trust to earn additional LINK over time.
The ETF charges a 0.34% management fee. For the first three months after listing, Bitwise will waive the full sponsor fee on the first $500 million of assets, temporarily reducing costs for early investors.
Chainlink is a decentralized oracle network that enables smart contracts on blockchains to securely interact with external data sources and off-chain systems.
LINK was trading at $14 at press time, up 7.5% in the last 24 hours. The gains follow a market-wide rebound earlier today that lifted Bitcoin to $96,000.
The Bitwise Chainlink ETF is the second US spot fund tied to LINK, approved shortly after a major fund manager converted its Chainlink Trust into a spot ETF (GLNK) late last month. The GLNK fund has reached $87.5 million in assets, per the latest disclosure.