Bitwise has filed a preliminary prospectus for a Chainlink (LINK) spot exchange-traded fund (ETF), marking another step towards increasing the accessibility of altcoins to mainstream investors. This filing comes at a time when the US Securities and Exchange Commission’s (SEC) timeline for approving existing proposals has created uncertainty, however, it signals an ongoing trend of expanding the selection of cryptocurrency assets within traditional financial markets. The Chainlink product will utilize Coinbase Custody for safekeeping and will be cash-settled. However, in case of liquidation, the Trust may compensate buyers with either cash or crypto, a unique feature not often seen in other ETFs where investors often prefer to avoid self-custody complications.