Bitwise Moves Closer to a Chainlink ETF

Bitwise's Chainlink spot ETF has reached a decisive milestone with its registration in the DTCC under the ticker CLNK. This appearance in the "active" and "pre-launch" categories generally serves as a harbinger of an imminent launch.

Although Form 8-A, the final document required before going public, has not yet been filed, the process has been progressing since the filing of Form S-1 in August. This ETF aims to track the price of the LINK token, which powers the Chainlink decentralized oracle network.

Competition is intensifying with Grayscale, which is also developing a Chainlink ETF, but with additional regulatory challenges related to staking. The U.S. government shutdown, now entering its sixth week, is delaying the approval of dozens of pending crypto ETFs.#ChainlinkUpdate $LINK