Cryptocurrency asset manager Bitwise has officially submitted a request to the U.S. Securities and Exchange Commission (SEC) seeking approval for a Chainlink exchange-traded fund (ETF). This move intensifies competition with its pending XRP ETF application, both tokens vying for regulated investment product status. 24 Bitwise’s S-1 filing outlines the proposed Chainlink ETF, which will directly hold LINK tokens, enabling investors to gain exposure to the oracle network platform without the need to purchase tokens directly from exchanges. This structure utilizes both in-kind and cash creation processes for share issuance and redemption, mirroring traditional spot cryptocurrency ETFs.