Bitwise’s Chainlink ETF Filing Tests Waters for Oracle and DeFi Assets

In a significant test of the SEC’s appetite for altcoin-based products, Bitwise has filed for a spot ETF exclusively for Chainlink’s LINK token.

This move extends the “single-token fund” strategy beyond Bitcoin and Ethereum, targeting a fundamental pillar of the DeFi ecosystem: the oracle network.

The proposed structure, with Coinbase handling custody and execution, mirrors that of the recently approved spot Bitcoin ETFs. However, analysts will note a key omission: no staking.

Despite the SEC’s recent clarifications on staking, Bitwise has chosen a conservative, pass-through approach, focusing solely on LINK’s price action rather than its yield-generating potential within its native proof-of-stake system. This filing is a major benchmark for the maturation of crypto markets, potentially paving the way for ETFs tied to other essential protocol tokens.