X @BSCN

ETF Filing & Structure - Bitwise has filed an S-1 with the SEC for a Chainlink ETF, aiming to provide regulated exposure to $LINK [1] - The proposed ETF will directly hold LINK and track the CME CF Chainlink-Dollar Reference Rate [1] - Coinbase Custody Trust Company is proposed as the custodian, with Coinbase, Inc, as the prime execution agent [1] - The ETF will not include staking provisions, focusing solely on spot market price exposure [2] - Standard creation and redemption processes are detailed, allowing for both in-kind and cash transactions via a "Trust-Directed Trade" process [3] Strategic Rationale & Market Impact - The ETF filing aligns with Bitwise's strategy to diversify single-token crypto products beyond Bitcoin and Ethereum [3] - Bitwise CIO Matt Hougan views Chainlink as a "cleanest" crypto play, highlighting its role in tokenization and blockchain infrastructure [4] - Approval of the Bitwise Chainlink ETF would mark a significant step in Wall Street's expansion into the digital asset sector, focusing on oracle network tokens [4]