Bitwise Files Spot Chainlink ETF, Updates XRP ETF Submission
Bitwise Asset Management has filed an S-1 registration with the SEC to launch a spot Chainlink ETF that holds LINK tokens directly. The proposed Chainlink ETF will use Coinbase Custody Trust Company as custodian and support in-kind creation and redemption using LINK or cash. Since the filing, LINK’s price has jumped over 5% to above $23, with traders eyeing a potential breakout to $30. At the same time, Bitwise amended its XRP ETF S-1 following SEC feedback, targeting October for key approval catalysts. If the XRP ETF follows Ethereum’s path, trading could begin two months after approval; if it mimics Bitcoin ETF rollouts, trading may start within one to five days. XRP is trading near $3.22 after peaking at $3.60. These spot Chainlink ETF filings mark the first US fund directly tracking Chainlink and signal growing institutional interest in altcoin ETFs.
Bullish
The S-1 filing for a spot Chainlink ETF and the amended XRP ETF submission are bullish signals for LINK and XRP. In the short term, ETF-related news has already driven LINK’s price up over 5% and could trigger a breakout toward key resistance at $30. For XRP, regulatory progress and a clear approval timeline boost trader confidence, potentially lifting prices near recent highs. Long term, approval of these ETFs would open institutional inflows, tighten circulating supply, and improve liquidity, underpinning sustained upward momentum for both tokens.