According to Nate Geraci, co-founder of the ETF Institute, cryptocurrency asset management firm Grayscale will launch the first U.S. spot Chainlink exchange-traded fund (ETF) this week.
"This week, the first spot Chainlink ETF will go live. Grayscale will be able to list/convert the Chainlink private trust into an ETF," Geraci stated on Sunday via X.
Meanwhile, another Chainlink ETF from competitor cryptocurrency asset management firm Bitwise is also in the pipeline.
According to Bloomberg senior ETF analyst Eric Balchunas, Geraci's prediction aligns with Bloomberg Intelligence's estimate, which anticipates that Grayscale's product is expected to launch on December 2.
Last week, Balchunas predicted that over 100 products could be "continuously" launched in the next six months while sharing a screenshot showing the expected launch date of Grayscale's Chainlink ETF.
"In the next six days, five spot crypto ETFs will go live. Besides that, we don't have exact numbers, but we expect a 'steady supply' (potentially over 100 in the next six months)," Balchunas stated on November 24 via X.
Similar to several other ETFs from the company, the "Grayscale Chainlink Trust" will be converted into an ETF five years after its establishment at the end of 2020, which is derived from the company's Chainlink trust.
The product will generate returns by tracking the spot price of Chainlink and participating in the rewards obtained from staking Chainlink.
Grayscale has been bullish on the Chainlink ecosystem and recently referred to it as a "key connective organization" bridging crypto and traditional finance in a research report.
This year's changes in SEC leadership have opened the floodgates for U.S. crypto ETFs, with ETFs linked to assets like Solana, Ripple, and Dogecoin already approved this year.
Last month, Grayscale also launched spot ETFs for Ripple and Dogecoin.
Related: Tether CEO slams S&P rating agencies and influencers spreading panic about Tether (USDT)
Original article: “Grayscale to Launch First Ever Spot Chainlink ETF via Trust Conversion”
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