Grayscale Launches First US Spot Chainlink ETF
- This week, Grayscale will launch the first Chainlink ETF in the US.
- The ETF is made by changing a private Chainlink trust that already exists.
- Nate Geraci, the president of ETF Store, told X about it.
Grayscale Investments is making a big splash in the world of cryptocurrencies. They’re going to launch the first spot ETF for Chainlink in the US. This week, this will happen, making their private trust a public ETF.
It’s easy to do the process. Grayscale already has a Chainlink trust that is worth about $30 million. They’ll “uplist” it, which means they’ll turn it into an ETF that is traded on a stock exchange like NYSE Arca. This makes it easy for regular people to buy shares, just like stocks.
No need for complicated crypto wallets. The ETF has real Chainlink tokens, so it can track the price directly. Chainlink is known for its oracle network, which connects blockchains to real-world data. This is a big step for them.
Nate Geraci, an ETF expert, broke the news on X. He wrote, “Set to launch this week… First spot link ETF. Grayscale will be able to uplist/convert Chainlink private trust to ETF.” His update quickly got a lot of attention, with thousands of views and likes.
Geraci, who owns The ETF Store, is good at spotting trends in funds. His tweet shows that crypto ETFs are growing beyond just Bitcoin and Ethereum.
