The Depository Trust and Clearing Corporation (DTCC) has officially added Bitwise’s proposed spot Chainlink ETF (CLNK) to its “active and pre-launch” list — a move that has stirred optimism throughout the cryptocurrency market. The DTCC, which plays a central role in the U.S. financial system by handling trade settlement and custody services, often signals a fund’s readiness for trading when it reaches this stage of listing.
While a DTCC listing does not guarantee SEC approval, it’s widely regarded as a positive sign that the ETF could soon move closer to launch. Investors see this as an encouraging milestone for both Bitwise and the broader crypto ETF market.
Bitwise Leads With the First Chainlink ETF Proposal
Bitwise first submitted its Chainlink ETF proposal in August through an S-1 filing with the U.S. Securities and Exchange Commission (SEC), making it the first-ever attempt to create an ETF based on Chainlink (LINK). If approved, the fund would offer investors direct exposure to Chainlink’s market performance — without the need to buy or store the underlying cryptocurrency.
In September, Grayscale followed suit with its own Chainlink ETF proposal, which is expected to include LINK staking features — a key difference from Bitwise’s version. The emergence of multiple Chainlink ETF proposals highlights growing institutional interest in crypto assets beyond the dominant players, Bitcoin and Ethereum.
Chainlink’s Growing Role in Blockchain Infrastructure
Chainlink, powered by its native token LINK, serves as a decentralized oracle network that connects blockchain-based smart contracts to real-world data — such as market prices, weather updates, and event outcomes. This technology is vital for powering decentralized finance (DeFi) and Web3 applications, making Chainlink a core infrastructure layer in the blockchain ecosystem.
The DTCC’s recognition of Bitwise’s Chainlink ETF reflects an important shift in institutional sentiment. As traditional finance firms explore opportunities in blockchain infrastructure, products like the Chainlink ETF could help bridge the gap between conventional markets and decentralized technologies.
Although regulatory approval is still pending, Bitwise’s latest milestone with the DTCC reinforces a growing trend: Wall Street is increasingly looking beyond Bitcoin and Ethereum to the technologies building the next generation of the internet.
