Grayscale Seeks Approval for GLNK: A Cash-Creation Spot LINK ETF with Staking Provisions
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Grayscale has submitted an S-1 filing to the SEC for a novel fund structure: a spot Chainlink ETF designed for cash creations and redemptions.
The proposed “Grayscale Chainlink Trust ETF” would track the price of LINK and is structured to allow for potential in-kind redemptions should regulations change in the future.
A technically significant aspect of the proposal is its staking mechanism. The filing indicates that the fund could delegate its LINK assets to third-party staking providers while the tokens remain securely in custodian wallets at Coinbase Custody.
This setup is designed to generate rewards for shareholders without compromising custody security, marking a potential evolution in how crypto-based ETFs can function.
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