Crypto asset management firm Grayscale is set to launch the US’s first spot Chainlink exchange-traded fund (ETF) this week, according to ETF Institute co-founder Nate Geraci. Geraci confirmed the news on X, revealing that Grayscale plans to convert its private Chainlink trust into an ETF. This follows closely after a competing LINK ETF from Bitwise is also awaiting regulatory approval. Bloomberg Intelligence estimates indicate that Grayscale’s product is slated for launch on December 2nd, aligning with predictions from Bloomberg senior ETF analyst Eric Balchunas who previously anticipated over 100 new crypto ETFs launching within the next six months. Similar to Grayscale’s other offerings, this Chainlink ETF will be structured as a trust conversion from its existing LINK trust, which was established in late 2020. The fund will aim to replicate the spot price of LINK and also incorporate returns earned through staking on the cryptocurrency. Grayscale’s continued belief in the Chainlink ecosystem is evident in their recent research report which labels it as a crucial bridge between crypto and traditional finance. A change in SEC leadership this year has accelerated the approval process for crypto ETFs, leading to regulatory approvals for assets like Solana (SOL), XRP (XRP), and Dogecoin (DOGE) all this year, opening the door for Grayscale’s new product.