Grayscale’s Chainlink ETF Filing Reveals Its Real Endgame: On-Chain Yield

• Grayscale has filed for a Chainlink spot ETF in the US.
• The investment firm wants to convert its Chainlink Trust into a spot ETF.
• If approved, the new ETF would be listed on NYSE Arca under the GLNK ticker.

Grayscale Investments has officially filed paperwork with the U.S. Securities and Exchange Commission (SEC) to convert its Grayscale Chainlink Trust into a spot Chainlink (LINK) ETF. The formal 19b-4 application contains a pivotal detail: a provision that would allow the proposed ETF to stake a portion of its LINK holdings to generate yield for its investors.

If the SEC approves the proposal, the fund would be listed on the NYSE Arca under the ticker symbol GLNK, establishing a new type of regulated crypto product in the U.S. market.

Why is On-Chain Yield a Game-Changer for ETFs?

By including staking directly in the filing, Grayscale is attempting to merge on-chain yield with a traditional, regulated investment vehicle. The proposal specifies that the GLNK ETF could use third-party providers to stake its LINK tokens, creating an additional stream of returns for shareholders on top of any price appreciation.

This move suggests the next wave of cryp…

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