The Long-awaited ETF News for the Altcoin Partnered with the US Department of Commerce Has Arrived! A First in the US!

The altcoin ETF wave that started with Solana, Litecoin, and Hedera in the US continues with XRP and other altcoins.

At this point, the last altcoin to launch an ETF was Chainlink (LINK).

According to The Block, a spot ETF tracking the Chainlink price has begun trading on the New York Stock Exchange.

This marks the debut of the first spot LINK ETF.

Accordingly, Grayscale Investments listed the Grayscale Chainlink Trust ETF (GLNK) on NYSE Arca today. Grayscale has converted the previously private trust Grayscale Chainlink Trust into an ETF with approximately $17 million in assets under management (AUM).

Grayscale stated that the LINK ETF in question was launched with 0% commission.

“Chainlink plays a key infrastructure role in establishing data connectivity between blockchains and tokenization and decentralized finance (DeFi). With GLNK, investors can gain access to this core infrastructure within a familiar ETP package,” Grayscale Senior Vice President of ETFs Inkoo Kang said in a statement.

In addition to Chainlink, Grayscale has also launched XRP, Dogecoin (DOGE), and Solana (SOL) ETFs in the past few weeks, while also filing with the SEC to launch its first Zcash (ZEC) ETF.

Chainlink is among the cryptocurrencies most preferred by institutions. The US Department of Commerce has also partnered with Chainlink. According to the partnership announcement in August, the US Department of Commerce announced that macroeconomic data such as GDP, Personal Consumption Expenditure Index (PCE), and US Domestic Demand Strength will be transferred to various blockchain networks via oracle providers Chainlink and Pyth.

Apart from this, Deutsche Börse Market Data Services, a division of Deutsche Börse Group, one of Germany’s largest stock exchanges, announced that it has established a partnership with the leading oracle platform Chainlink (LINK).

*This is not investment advice.