Grayscale Seeks SEC Approval for Chainlink Spot ETF Conversion

Grayscale Investments has filed a proposal with the Securities and Exchange Commission (SEC) to convert its Chainlink Trust into a spot-based exchange-traded fund (ETF). This move, if approved, will allow institutional investors to gain regulated exposure to Chainlink tokens (LINK) through this new ETF listed on the NYSE Arca exchange. 📈 The conversion has the potential to significantly boost institutional involvement in LINK, following the trend of wider crypto ETF adoption. However, it’s important to note that the process requires further regulatory approvals for features such as staking. ⚙️