Bitwise’s proposed spot Chainlink exchange-traded fund (ETF) has appeared on the Depository Trust and Clearing Corporation (DTCC) registry, a development often seen as a strong signal that a product is nearing launch.
While the move doesn’t guarantee approval from the US Securities and Exchange Commission (SEC), it has historically indicated that a product is close to being cleared for trading.
Bitwise, one of the largest crypto asset managers in the US, has yet to file its Form 8-A, a key requirement before an ETF can officially list on an exchange. The firm initially filed its Form S-1 in August, outlining its plan for an ETF designed to track Chainlink (LINK), the native token powering Chainlink’s decentralized oracle network, which delivers real-world data to smart contracts on-chain.
The DTCC serves as one of Wall Street’s core post-trade infrastructure platforms, handling the clearing, settlement, and recording of financial transactions to ensure efficient and secure processing for assets, including stocks and ETFs.
The listing comes amid a broader wave of spot crypto ETF applications, many of which have been delayed due to the ongoing US government shutdown, now in its 42nd day.
Grayscale is also pursuing a spot Chainlink ETF, though analysts say it could face tougher scrutiny as it aims to incorporate staking, an area still viewed cautiously by US regulators.
Data shows trading volumes in ETPs remained high at $43 billion, but optimism from midweek progress on resolving the U.S. government shutdown quickly faded, sparking further redemptions by Friday.
As reported, institutional outflows from crypto investment products accelerated last week, reaching $1.17 billion, the second consecutive week of heavy withdrawals amid renewed market volatility and macroeconomic uncertainty.
