Investment manager Grayscale has submitted an application to federal regulators seeking to transform its existing Chainlink Trust into an exchange-traded fund (ETF) that would aim to provide direct exposure to LINK.

According to a new U.S. Securities and Exchange Commission (SEC) Form S-1 filing, the proposed ETF would list on NYSE Arca under the ticker “GLNK.”

The fund would enable institutional and retail investors to access Chainlink tokens through traditional brokerage accounts without purchasing the digital assets directly.

Coinbase Custody would handle token storage for the fund, while Bank of New York Mellon would serve as both administrator and transfer agent. Initially, the ETF would operate using cash-based creation and redemption processes, though Grayscale may later incorporate direct LINK token transfers pending regulatory clearance.

The company is also evaluating whether to stake LINK tokens held within the fund to generate additional returns, subject to tax and regulatory approvals.

Grayscale becomes the second asset manager pursuing a Chainlink-focused ETF, following Bitwise Asset Management’s earlier filing. The competing applications reflect growing institutional appetite for cryptocurrency exposure through traditional investment structures.

The filing represents part of Grayscale’s broader strategy to expand beyond Bitcoin (BTC) and Ethereum (ETH) ETFs into alternative digital assets.

LINK is up 3% at time of writing, currently trading for $23.19.