Key Highlights
- Grayscale’s first spot Chainlink ETF offers investors safe, regulated access to LINK without managing wallets or private keys.
- Zcash ETF filing shows rising investor interest and could expand regulated crypto options beyond Bitcoin and Ethereum.
- Multiple spot ETFs, including Dogecoin and XRP, indicate growing market momentum, while competition heats up among crypto fund managers.
Investors may soon gain direct access to Chainlink as Grayscale prepares to launch the first spot Chainlink ETF this week. Nate Geraci, President of The ETF Store, confirmed on X that the company plans to convert its existing Chainlink private trust into a publicly tradable exchange-traded fund (ETF).
This move offers a regulated avenue for investors to access cryptocurrency without handling wallets or private keys. Bloomberg Intelligence earlier said the expected launch date is December 2, with analyst Eric Balchunas noting a “steady supply” of spot crypto ETFs likely exceeding 100 in the next six months.
The Chainlink ETF shows how U.S. crypto is moving toward safer, regulated options. Grayscale’s fund lets investors directly hold LINK tokens. They’ve also converted Bitcoin and Ethereum trusts into ETFs, showing confidence in U.S. crypto rules.
Grayscale expands spot crypto offerings
Recently, Grayscale filed an S-3 registration with the Securities and Exchange Commission (SEC) to convert its Zcash Trust into a spot Zcash ETF. The filing detailed that the ETF would store real ZEC and track the CoinDesk Zcash Price Index, allowing the fund to reflect the true market price of Zcash.
The filing further requests a 19b-4 rule change, which will permit trading on NYSE Arca when regulators allow it. Grayscale noted that the long history of reporting enables swifter conversions through the S-3 form, having converted trusts for Bitcoin and Ethereum in 2024.
The Zcash ETF currently represents about US$150 million in ZEC holdings. If approved, the ETF will create and redeem shares in baskets of ZEC, as is the case with other US spot crypto ETFs.
Interest in Zcash has also risen lately after Reliance Group said it would move its entire crypto portfolio into ZEC, increasing scrutiny at an opportune moment. The ETF will have a 2.5% annual sponsor fee and could be extended to more regions after listing.
Recent spot ETF activity signals market momentum
Grayscale is also moving forward with Dogecoin (GDOG) and XRP (GXRP) spot ETFs, which have just started trading on the New York Stock Exchange (NYSE). The exchange approved them after months of paperwork.
Eric Balchunas had projected that GDOG could see about $11 million in first-day trading volume, showing extreme initial investor interest. He further said Grayscale’s Chainlink ETF, GLNK, was expected to follow, making for a busy period for crypto ETF launches at the time.
In contrast, CoinShares pulled its plans for three U.S. spot crypto ETFs—XRP, Solana Staking, and Litecoin—and will shut down its Bitcoin Futures Leveraged ETF, showing the market is getting more competitive with big financial firms in charge.
Grayscale’s Chainlink ETF allows regular investors to access crypto without managing wallets or private keys. With more spot ETFs coming, people may get safer, regulated ways to invest in digital assets.
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