Grayscale’s Chainlink ETF Debuts on NYSE With 0% Fees

Key Insights:

• GLNK gives investors direct LINK exposure via a familiar ETF wrapper on NYSE Arca.
• Chainlink’s expanding role in DeFi and tokenization drives demand for regulated access.
• Grayscale waives GLNK fees for 3 months or up to $1B in managed assets.

Grayscale Investments has launched its Chainlink ETF, trading under the ticker GLNK, on the NYSE Arca. This is the first exchange-traded product in the U.S. linked to Chainlink (LINK), offering exposure to the token through traditional brokerage platforms.

GLNK provides spot exposure to LINK, the token powering Chainlink’s decentralized oracle network. The fund is structured as an exchange-traded product, not a traditional 1940 Act ETF. Coinbase will serve as the custodian for the underlying LINK held in the fund. Grayscale has set a 0% management fee for the first three months or until the fund reaches $1 billion in assets.

GLNK Offers Direct LINK Exposure in ETF Format

The ETF holds LINK directly and is designed to reflect the token’s market value through a subscription and redemption model. This structure allows GLNK to track net asset value more closely than its earlier over-the-counter version.

Inkoo Kang, Senior Vice President of ETFs at Grayscale, said, “With GLNK, investors can gain exposure to this foundational infrastructure in the familiar ETP wrapper.” The product is aimed at both institutional and retail participants who want access to LINK through a regulated vehicle.

Chainlink’s Role in Blockchain Use Cases

Chainlink provides decentralized data feeds for smart contracts across blockchain networks. It is used in areas such as decentralized finance (DeFi), insurance, gaming, and asset tokenization. The network also connects legacy systems to public and private chains, supporting cross-chain communication.

Grayscale noted that Chainlink’s expanding role in blockchain infrastructure was a key reason for launching the fund. The company said Chainlink’s services are expected to support the next phase of growth in tokenized markets.

Fund Structure and Investor Considerations

GLNK was first launched as a private placement in 2021 and later began trading on OTC Markets. The move to NYSE Arca brings it into a broader investment market with increased visibility.

Grayscale confirmed that the product is not registered under the Investment Company Act of 1940. The firm stated, “An investment in GLNK is not suitable for all investors,” and warned of possible full capital loss. GLNK gives exposure to LINK, but it is not a direct token purchase.