Key Insights:
- Grayscale files S-1 amendment for its Chainlink ETF with the U.S. SEC.
- The issuer revealed a 0.35% management fee.
- Grayscale waived the entire fee for 3 months until reaching $1 billion in assets under management.
- LINK price holds above $15.
Crypto asset manager Grayscale has filed an updated S-1 for its Chainlink ETF with the U.S. Securities and Exchange Commission.
The issuers made several changes, including fee waivers, risk disclosures, and a change in language to go auto-effective with an 8-A filing.
LINK price saw a 3% jump over the last few hours amid ETF anticipation and end of the US government shutdown.
Grayscale Updates its Spot Chainlink ETF for Auto-Approval
According to the latest filing with the US SEC, Grayscale filed a first amendment to S-1 for its spot Chainlink ETF.
In the latest filing, the issuer has revealed a 0.35% management fee. Also, it waived the entire fee for 3 months until reaching $1 billion in assets under management.
Grayscale Chainlink Trust ETF will list the shares on NYSE Arca under the ticker symbol “GLNK.” At present, the shares are listed on OTCMKTS.
In addition, the issuer updated the language in the application with respect to an earlier guidance letter from the US SEC’s Division of Corporate Finance.
Grayscale added that the registration to become effective with the 8-A filing and listing approval certificate by the exchange.
Chainlink ETF Buzz as Bitwise Appears on DTCC Website
Grayscale’s amendment comes as DTCC listed Bitwise Chainlink ETF under the ticker symbol “CLNK.” The listing indicates progress towards approval of Chainlink ETFs.
This sparked speculation with the crypto community amid ETF launch anticipation. It will provide institutional and retail investors with exposure to LINK.
The S-1 amendment by Grayscale has started the 20-day clock for its Chainlink ETF. Crypto ETFs became auto-effective with the 8-A and CERT filings amid the prolonged U.S. government shutdown.
However, US President Donald Trump signed a bill today to officially end the government shutdown. This comes following voting in the Senate and the House to end the government shutdown.
LINK Price Holds Above $15 Support
Amid the Chainlink ETF optimism, LINK price saw slight upside momentum but remained 2% down at $15.74 over the past 24 hours. The 24-hour low and high were $14.97 and $16.21, respectively.
Furthermore, trading volume has jumped by 20% in the last 24 hours. This indicated a rise in interest among traders.
Notably, LINK price is trading below the 50-MA and 200-MA on the daily chart, even though the Grayscale Chainlink ETF decision is near. The price needs to reclaim above the 50-MA at $18.60 for a potential rally.
Analyst Ali Martinez claimed the range between $13 and $26 is a no-trade zone for Chainlink. A major move will come once the LINK price breaks out of this range.
CoinGlass data showed massive selling in the derivatives market. Total LINK futures open interest tumbled more than 6% to $637.28 million in the last 24 hours.