Bitwise Files for Chainlink ETF with In-Kind Creation and Redemption

Bitwise Asset Management has formally submitted an application to the U.S. Securities and Exchange Commission (SEC) for the creation of an Exchange Traded Fund (ETF) focused on Chainlink. This proposed fund seeks to track the performance of Chainlink through its investments in LINK tokens. The proposed fund features in-kind creation and redemption mechanisms. This structure aims to align the ETF’s price with the underlying market value of the LINK tokens, mitigating potential deviations. If approved, the ETF would provide investors with a regulated avenue for exposure to Chainlink without the need for direct custody of LINK tokens. The filing is currently under review by the SEC, which may result in approval, denial, or a request for amendments prior to a final decision.