Bitwise Asset Management’s proposed spot Chainlink exchange-traded fund (ETF) has gained attention after being listed on the Depository Trust and Clearing Corporation (DTCC) registry under the ticker CLNK. This development is often interpreted as a strong indicator that the ETF is approaching its launch phase. The move comes at a time when the broader crypto ETF market is experiencing significant delays.
The Chainlink ETF aims to track the performance of Chainlink (LINK), a cryptocurrency integral to the decentralized oracle network that provides vital real-world data to smart contracts. While Bitwise awaits approval from the U.S. Securities and Exchange Commission (SEC), it is also in the process of completing its Form 8-A filing, a key requirement for official exchange listing.
The addition of the CLNK ticker to the DTCC’s “active” and “pre-launch” categories signifies that the product is nearer to being cleared for trading, although SEC approval is not guaranteed. The DTCC plays a crucial role in Wall Street’s post-trade infrastructure by handling the clearing, settlement, and recording of various financial transactions, ensuring secure processing for assets like stocks and ETFs.
In parallel, Grayscale is also in pursuit of a spot Chainlink ETF. However, analysts suggest that Grayscale’s proposal may encounter greater scrutiny due to its plans to include staking, which remains a delicate issue among U.S. regulators.
This hopeful news arrives amid a wave of spot crypto ETF applications that have faced delays, largely attributed to the ongoing U.S. government shutdown, which has now stretched into its 42nd day. The SEC has been operating at reduced capacity due to this situation. However, there is optimism that lawmakers will soon agree on a funding deal, which could restore the SEC’s full operational capabilities. Industry pundits believe that this resolution may quicken the ETF approval process, especially in light of new generic listing standards introduced by the SEC in mid-September. These changes could allow certain crypto investment products to be listed without the rigorous case-by-case reviews previously required.
If Bitwise’s Chainlink ETF secures approval, it would represent a significant milestone as one of the first U.S. spot ETFs providing investors exposure to a decentralized oracle network—marking a noteworthy step in the institutional adoption of altcoin investments.
On a broader scale, recent reports indicate that crypto funds are experiencing notable outflows amid rising market volatility. Last week saw institutional outflows from crypto investment products reach $1.17 billion, marking the second consecutive week of heavy withdrawals due to macroeconomic uncertainties. Despite trading volumes in exchange-traded products remaining robust at $43 billion, the initial optimism surrounding potential resolutions to the U.S. government shutdown quickly waned, resulting in additional redemptions.
Most of the recent outflows originated in the U.S., totaling $1.22 billion, while Germany and Switzerland saw more modest inflows of $41.3 million and $49.7 million, respectively. Bitcoin funds faced the largest losses, reporting outflows of $932 million. Ethereum also suffered, with withdrawals amounting to $438 million. Interestingly, short Bitcoin ETPs did see inflows of $11.8 million, representing their strongest week since May 2025.
In contrast to these bearish trends, certain altcoins demonstrated resilience, with Solana leading the charge by attracting $118 million in inflows. This influx brings Solana’s total inflow over the past nine weeks to an impressive $2.1 billion, suggesting that while the overall market may be volatile, there remain pockets of opportunity for investors.
