The filing, dated Sept. 5, 2025, registers Grayscale Chainlink Trust (LINK) and says upon effectiveness it will be renamed Grayscale Chainlink Trust ETF (GLNK). The trust’s objective is for its shares to reflect the value of chainlink (LINK), less expenses and liabilities, by referencing the Coindesk Chainlink Price Index at 4 p.m.
LINK price on Monday.
According to the prospectus, the trust plans to issue and redeem in baskets of 10,000 shares through authorized participants. Creations and redemptions would be cash-based via a liquidity provider; in-kind transfers of LINK could be added later if NYSE Arca secures additional approvals in the future. The administrator and transfer agent are Bank of New York Mellon, with Coinbase Custody Trust as custodian and Coinbase, Inc. as the ETFs prime broker.
The document further notes that NYSE Arca has proposed “Generic Listing Standards” that, if approved, could allow commodity-based digital asset products to list without 19b-4 orders. Grayscale says it will not seek effectiveness or offer shares until those standards are approved, or if the sponsor determines such approval is unnecessary.
The trust is not registered under the Investment Company Act, and the sponsor believes it is not a commodity pool under the Commodity Exchange Act. Like most filings, the prospectus highlights risks including LINK price volatility, premiums or discounts to net asset value, regulatory changes, and dependencies on service providers and trading platforms.
While the trust agreement permits staking of LINK, the filing says a “Staking Condition” has not been met, and the trust is currently prohibited from staking. If that condition is later satisfied, the sponsor may stake a portion of holdings through third-party providers, with any proceeds handled under a policy the sponsor will disclose. LINK is up 3.18% on Monday and a modest 0.8% over the last seven days. Over the last 12 months, however, LINK has risen 126%.
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