Bitwise Chainlink ETF Approved: LINK Price Soars, Fee Waiver Announced

Bitwise’s spot Chainlink ETF (CLNK) has been approved for NYSE Arca listing, offering direct LINK exposure. The ETF launches with a fee waiver, and LINK price surged over 11% on the news, with trading volume up nearly 49%.

Bitwise has secured approval to list its spot Chainlink ETF (CLNK) on NYSE Arca, marking a significant expansion for regulated crypto investment products in the U.S. The ETF, expected to launch this week, will provide direct exposure to LINK, with Coinbase Custody and BNY Mellon managing digital and cash assets, respectively. Bitwise is offering a three-month management fee waiver for up to $500 million in assets, after which a 0.34% fee applies. The fund will be seeded with $2.5 million, and staking may be introduced later, with Attestant Ltd. as the preferred provider. Following the announcement, LINK’s price surged over 11% in a week, trading near $14, with trading volume rising by nearly 49%. Technical indicators show strong buying pressure and bullish momentum. The ETF’s approval is seen as a milestone for altcoin-focused products, potentially paving the way for more single-asset crypto ETFs and increased institutional participation in the altcoin market.