Bitwise Files S-1 Statement For Chainlink ETF, LINK Recovery Path Defined?
Key Insights:
- Bitwise filed an S-1 with the SEC for a Chainlink ETF to complement its crypto ETF push.
- The ETF would hold LINK directly with custody managed by Coinbase.
- Analysts’ price forecasts pointed toward $100 in the long term.
Bitwise Asset Management has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to launch a Chainlink ETF.
The filing marked one of the first attempts to bring regulated exposure to an oracle network’s native token.
Analysts and commentators, including Eric Balchunas, noted the move as a potential milestone for both the asset and the wider crypto market.
Bitwise Seeks Approval for Chainlink ETF
Bitwise submitted the application to the SEC under the Securities Act of 1933. The proposed product was listed as the “Bitwise Chainlink ETF.”
The filing showed Delaware as the state of incorporation and named Coinbase Custody Trust Company as custodian.
Notably, if approved, the ETF would hold Chainlink’s native token, LINK, directly.
It would not use leverage or derivatives, but instead track the CME CF Chainlink-Dollar Reference Rate.
The net asset value would be updated once daily, while intraday values would refresh every 15 seconds to reflect real-time prices.
Eric Balchunas, a senior ETF analyst at Bloomberg, shared the development on social media, highlighting the importance of Bitwise’s decision.
The firm has a track record of filing for single-token ETFs and diversified indexes, with past applications covering assets such as Solana, XRP, and NEAR.
Adding Chainlink, known for its high whale activity, to the list showed a broadening strategy aimed at providing investors with more regulated ways to access digital tokens.
The filing came during a period of shifting regulations marked by an earlier approval of spot Bitcoin and Ethereum ETFs.
This precedent is likely to open the door for similar products tied to other cryptocurrencies.
It is worth noting that Chainlink launched in 2019 as a decentralized oracle network.
Its main role has been to connect blockchains with real-world data, making it possible for smart contracts to interact securely with external information.
More importantly, these services include price feeds, random number generation for gaming, and tools for cross-chain interoperability.
The protocol has grown into one of the most widely integrated pieces of blockchain infrastructure.
By 2025, it supported thousands of projects and was seen as a foundation for decentralized finance.
Its oracle technology has secured trillions in smart contract value across DeFi, NFTs, gaming, and other blockchain applications.
LINK, the token that powers the network, is used to pay for oracle services and incentivize data providers.
This utility has made it different from many other tokens that are valued mainly for speculation.
At the time of the Bitwise filing, LINK was the 13th largest cryptocurrency by market capitalization, trading close to $23.
The introduction of an ETF focused solely on Chainlink would mark the first U.S. attempt to give institutional investors direct access to an oracle network token.
Observers noted that such a step could bring Chainlink further into mainstream financial markets.
Market Reactions and LINK Price Outlook
It is important to add that the ETF filing has sparked discussions about how LINK’s price might react.
Market analyst Ali Martinez suggested that LINK could see one more dip before a price increase, a projection in line with previous forecasts.
His chart, shared on Twitter, showed LINK consolidating within a long-term pattern, with a possible breakout projected in the future.
As of writing this publication, LINK price traded around $24.29, reflecting a 1.08% decline in 24 hours day.
Despite short-term weakness, traders debated whether the ETF news could help build momentum for a longer recovery.
Social media commentary highlighted both the risks and the opportunities.
Some pointed to LINK’s volatility, with a five-year rate above 100% and a maximum drawdown of more than 85%. Others argued that these swings could also provide openings for gains.
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