A GIANT JOINS THE PARTY!
#Bitwise Requests an ETF of #Chainlink , the Next Bet from Wall Street That Could Unlock Billions in Institutional Capital
The asset management giant Bitwise has taken a bold step in the digital asset market. The company has submitted a preliminary S-1 form to the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) for Chainlink #LINK
This move aims to provide investors with a regulated vehicle to gain exposure to the native token of the oracle network, which could attract a new wave of institutional capital.
Bitwise's proposal is a vote of confidence in Chainlink and its crucial role in the crypto ecosystem. The ETF, which will be called Bitwise Chainlink Trust, is designed to reflect the value of LINK.
Institutional Support: The filing indicates that Coinbase Custody Trust Company will be the custodian of the fund, and Coinbase, Inc. will act as the primary execution agent. This collaboration with a regulated and trusted player is a key signal for traditional investors.
Transaction Mechanisms: The document outlines the creation and redemption mechanisms, indicating that the ETF could handle transactions both in-kind and in cash, adding flexibility to the product.
Arrival on U.S. Exchanges: Although the specific exchange has not been revealed, it is expected that the shares of the trust will trade on a U.S. national exchange, making LINK accessible to a much broader audience.