Bitwise Chainlink ETF Hits DTCC Registry, Edging Closer to SEC Approval

Inching closer to reality, Bitwise’s spot Chainlink exchange-traded fund (ETF) has reached an important milestone by appearing on the Depository Trust and Clearing Corporation (DTCC) registry. This indicates that the fund is operationally ready to move forward. While final approval from the SEC is still required, the listing brings the ETF closer to beginning trading.

DTCC Listing Marks a Step Forward

On Tuesday, the Bitwise Chainlink ETF was added to the DTCC’s “active” and “pre-launch” registries under the ticker CLNK. The DTCC provides critical infrastructure for financial markets, handling trade settlement, post-trade processing, and recordkeeping to ensure secure and efficient asset exchanges, including stocks and ETFs. 

While inclusion on the DTCC lists is encouraging, it does not guarantee that the U.S. Securities and Exchange Commission (SEC) will grant final approval. Historically, however, such listings have often preceded formal authorization.

Progress on Chainlink ETF and Market Reaction

Meanwhile, Form 8-A for the Bitwise Chainlink ETF has yet to be lodged, one of the final procedural steps required before a security can be officially listed on an exchange. Completing this step typically indicates a product is close to launch

Earlier, in August, the firm submitted Form S-1 with the SEC to register the Chainlink ETF, which is designed to track the price of the LINK token, the cryptocurrency that powers the network’s decentralized oracle system.

Amid these ongoing approval steps, competition in the market remains active. Grayscale is also pursuing a spot Chainlink ETF, but its plan incorporates staking, allowing investors to earn rewards from the network. The added complexity of this structure may extend Grayscale’s review process, potentially giving Bitwise an advantage in launching its non-staking product first.

Following these developments, the LINK token has gained nearly 2% over the past 24 hours, indicating a modest response to the news.

Regulatory Delays and Rising Crypto ETF Activity

Meanwhile, broader approval timelines for exchange-traded funds have been affected by the U.S. government shutdown, which has lasted over 42 days under President Trump’s administration. The SEC’s operations slowed during this period, delaying decisions on ETF filings.

With the Senate passing a funding bill, federal agencies, including the SEC, are expected to resume full operations, which should allow pending ETF approvals to move forward.

At the same time, interest in spot ETFs for altcoins continues to grow. Recent applications have focused on tokens such as Avalanche, Solana, Dogecoin, Aptos, and Hedera. These filings indicate growing interest from institutional and retail investors in assets beyond Bitcoin and Ethereum. Nate Geraci, a financial commentator, suggested that the conclusion of the government shutdown could trigger a surge in spot crypto ETFs entering the market.