Bitwise Launches Chainlink ETF on NYSE Arca, Enters Competition With Grayscale

Core Insights - Bitwise Asset Management launched the Bitwise Chainlink ETF on NYSE Arca on January 14, marking the second ETF in the U.S. to offer direct ownership of Chainlink tokens, thus creating competition with Grayscale's existing GLNK product [1] - The fund trades under the ticker CLNK with a management fee of 0.34%, which will be waived for the first three months on the first $500 million in assets [1] Company Overview - Bitwise manages over $15 billion in client assets across more than 40 crypto investment products [2] - The Chief Investment Officer of Bitwise, Matt Hougan, emphasized the importance of Chainlink as essential infrastructure for connecting blockchains to external information [2] Fee Competition - The standard fee for CLNK is 0.34%, slightly lower than Grayscale's 0.35%, with both funds currently offering fee waivers to attract early investors [3] - Grayscale's Chainlink ETF, launched on December 2, 2025, has accumulated $87.5 million in assets and its fee waiver lasts until March 2, 2026, or until assets reach $1 billion [3] Regulatory Context - Neither the Bitwise nor Grayscale fund is registered under the Investment Company Act of 1940, resulting in fewer regulatory protections compared to traditional mutual funds [4] Market Context - As of January 14, LINK traded at $14.12 with a 24-hour gain of 5.39%, and Chainlink holds approximately 49% of the oracle market by assets protected on its network [5] - Chainlink has facilitated over $27 trillion in transaction value across more than 70 blockchains since 2017 [5] Expansion Plans - Bitwise is expanding its altcoin ETF lineup, having filed for 11 new crypto ETFs on December 31, including funds for Tron and Zcash [6]