Bitwise Asset Management's spot Chainlink ETF began trading on NYSE Arca under the ticker CLNK, coinciding with a Senate Banking Committee draft bill that assigns LINK the same product classification as Bitcoin.
Chainlink rose approximately 4% within 24 hours after the two announcements, trading volume increased by 45%, and open interest in futures reached $665 million.
This ETF launched with $25 per share and $2.5 million in seed capital, offering full fee waivers for assets up to $500 million for the first three months, after which the management fee is set at 0.34%.
Commodity Classification Framework
The draft bill released by the Senate Banking Committee on Tuesday designates LINK as a 'non-ancillary asset' based on the fact that Grayscale's Chainlink ETF has already been traded on major exchanges prior to January 1, 2026.
This classification treats Chainlink as a commodity under the oversight of the Commodity Futures Trading Commission (CFTC), similar to Bitcoin, rather than as a security subject to SEC regulation.
This designation removes SEC reporting requirements and the regulatory uncertainty that has previously restricted institutional participation in the LINK market.
XRP, Solana, Dogecoin, Litecoin, and Hedera are also considered eligible for the same framework based on existing ETF products.
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Institutional Exposure Expansion
Grayscale's Chainlink ETF recorded total inflows of $62.22 million since its launch on December 2, 2025, growing its assets under management to $87.64 million.
Coinbase Custody handles LINK custody for Bitwise products, while BNY Mellon handles cash custody.
LINK staking is mentioned as a secondary objective in regulatory documentation, but no specific implementation timeline has been confirmed; if approved, **Attestant Ltd.** is identified as the initial provider.
Bitwise manages approximately $15 billion in cryptocurrency assets and, following the success of Bitcoin and Ethereum ETFs, continues to steadily expand its regulated altcoin ETF offerings.
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