Key Takeaways
Bitwise has filed an S-1 to launch a Chainlink ETF that would supply US traders regulated publicity to the LINK token.
The ETF, if accepted, could be among the many first US funds targeted on an oracle community token, immediately holding LINK and monitoring the CME CF Chainlink-Greenback Reference Charge.
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American fund supervisor Bitwise Asset Administration is searching for approval from the US SEC to supply a brand new exchange-traded product that will observe the worth of Chainlink (LINK), the token powering the decentralized oracle community.
In keeping with a preliminary prospectus filed with the SEC in the present day, the proposed fund, the Bitwise Chainlink ETF, will maintain LINK immediately in custody with Coinbase Custody Belief Firm and observe the CME CF Chainlink-Greenback Reference Charge.
If accepted, the fund would broaden Bitwise’s rising lineup of single-token crypto ETFs and characterize one of many first US ETFs targeted on an oracle community’s native token, following the SEC’s latest approvals of spot Bitcoin and Ethereum ETFs.
Bitwise is awaiting the SEC choice on a number of crypto ETF choices, together with these tied to XRP, Solana, Dogecoin, and Aptos.
Launched in 2019, Chainlink is a decentralized oracle community that connects blockchains with real-world information. It allows sensible contracts to securely combine and work together with exterior inputs, reminiscent of monetary market information.
The protocol has grown to help hundreds of initiatives and underpins key features in DeFi, NFTs, gaming, and cross-chain interoperability. Chainlink’s providers now embody decentralized information feeds, verifiable randomness for gaming, automated contract execution, and instruments for linking belongings throughout blockchains.
Its function as infrastructure for dependable, tamper-resistant information has made LINK, the community’s native token, one of many main digital belongings by market capitalization.
LINK stands because the thirteenth greatest crypto asset, buying and selling near $23 in latest periods, CoinGecko information reveals.
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