NewsletterBreaking: First U.S. Chainlink ETF Goes Live as Grayscale Launches ‘GLNK’
Highlights
- Grayscale is now offering the first U.S. Chainlink ETF, GLNK, and it charges zero fee.
- It provides controlled access to the token of the blockchain oracle network upon which tokenization takes place.
- Chainlink’s role in tokenization grows as GLNK highlights rising demand for reliable data.
Grayscale has launched the first U.S. Chainlink exchange-traded product, marking a major milestone for the oracle-focused blockchain project. The new product trades under the ticker GLNK and is now live on NYSE Arca.
Zero-Fee GLNK Gives Regulated Access to Chainlink’s Infrastructure
The firm announced the launch as part of its plan to expand regulated exposure to key digital assets in the growing tokenization market. The Chainlink ETF provides investors with a familiar ETF-structure but runs as an Exchange-Traded Product as opposed to a 40-Act ETF.
Its launch comes after a previous clearance for Grayscale to proceed with the launch of this Chainlink ETF. There will be no management fees for this product upon launch.
According to Grayscale, GLNK will hold LINK directly and provide investors with a regulated access to benefit from the emerging blockchain data infrastructure market. However, the company cautioned that GLNK is a high-risk product. Hence, not all investors should invest in it as it is not a conventional ETF. Chainlink is the most popular decentralized oracle network on the public blockchains.
The protocol links physical data to smart contracts, which allows smart communication between chains. It also connects legacy systems to blockchains, providing an entry point for institutions to enter tokenized markets.
These characteristics were emphasized by Grayscale as key strengths of the Chainlink ecosystem. The firm said they were part of the reasons behind launching an ETF linked to its native token.
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