Bitwise Asset Management's spot Chainlink ETF began trading on NYSE Arca under ticker CLNK, coinciding with Senate Banking Committee draft legislation that grants LINK the same commodity classification as Bitcoin.
Chainlink rose approximately 4% over 24 hours following the dual announcements, while trading volume increased 45% and futures open interest climbed to $665 million.
The ETF launched with $2.5 million in seed capital at $25 per share and offers a complete fee waiver for three months on assets up to $500 million, dropping to 0.34% management fees afterward.
Commodity Classification Framework
The Senate Banking Committee draft bill released Tuesday designates LINK as a "non-ancillary asset" because Grayscale's Chainlink ETF was already trading on major exchanges before January 1, 2026.
This classification treats Chainlink identically to Bitcoin as a commodity under Commodity Futures Trading Commission oversight rather than Securities and Exchange Commission securities regulation.
The designation eliminates SEC disclosure requirements and regulatory uncertainty that previously constrained institutional participation in LINK markets.
XRP, Solana, Dogecoin, Litecoin, and Hedera also qualify under the same framework based on existing ETF products.
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Institutional Exposure Expanding
Grayscale's Chainlink ETF has accumulated $62.22 million in total inflows since launching December 2, 2025, bringing assets under management to $87.64 million.
Coinbase Custody will safeguard LINK holdings for the Bitwise product, while BNY Mellon handles cash custody.
Although LINK staking appears as a secondary objective in regulatory filings, no implementation timeline has been confirmed, with Attestant Ltd. identified as the preferred provider if staking receives approval.
Bitwise manages approximately $15 billion in cryptocurrency assets and continues expanding its regulated altcoin ETF offerings following successful Bitcoin and Ethereum products.
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