Aniket Pujari
Grayscale’s Chainlink Trust converts into the first U.S. Chainlink ETF on NYSE Arca, underscoring a policy shift as the SEC streamlines approvals for crypto funds.
Summary
- NYSE Arca certified conversion of the Grayscale Chainlink Trust into an ETF under 1934 Act rules.
- LINK joins Dogecoin, Solana, Litecoin, HBAR and XRP in Grayscale’s growing roster of converted crypto ETFs.
- Approval reflects an SEC policy shift under Chair Paul Atkins toward clearer, faster crypto product listings.
The first U.S. exchange-traded fund tied to Chainlink received approval to begin trading on NYSE Arca, according to a regulatory filing released Monday.
The exchange certified the conversion of the Grayscale Chainlink Trust ETF, allowing the fund to trade under rules established by the Securities Exchange Act of 1934, the filing showed.
Chainlink provides infrastructure that supports connections between blockchains and external data sources. Its LINK token ranks among the 25 largest crypto assets by market capitalization, according to market data.
Grayscale has converted several closed-end crypto trusts to ETF structures in recent months, including funds tied to Dogecoin, Solana, Litecoin, HBAR and XRP. The Chainlink product represents the latest addition to a series of crypto ETFs launched in recent weeks.
Industry observers have noted that listing approvals have accelerated as regulatory agencies adjust their approach to digital assets. The filing comes amid a policy shift under SEC Chair Paul Atkins, with officials indicating support for clearer rules governing crypto-based products and expedited processing of new applications, according to public statements.
Market participants have reported that listing standards have become more predictable following a period of reduced activity. The SEC pursued multiple enforcement actions in previous years as part of a more restrictive approach to token-related services.
The current regulatory environment has prompted an increase in applications for products tied to specific blockchain networks, according to industry filings.
