Grayscale Chainlink Trust ETF launches as first US Chainlink ETF

Davis Polk advised Grayscale Investments on the successful uplisting of the Grayscale Chainlink Trust ETF under the generic listing standards recently approved by the U.S. Securities and Exchange Commission. The transaction involved the uplisting and listing of the Grayscale Chainlink Trust ETF as the first spot Chainlink ETF in the United States. The trust provides one of the few investment vehicles that offer exposure to LINK, the native digital asset of the Chainlink network, through traditional securities brokerage and retirement accounts. Shares of the trust are listed on NYSE Arca under the ticker GLNK. Chainlink, established in 2014, is a decentralized oracle network that connects on-chain applications with real-world data. As the most widely used oracle across public blockchains, Chainlink relies on a network of node operators to support the reliability and accuracy of data delivered across various use cases. Leading financial institutions and DeFi protocols use Chainlink’s infrastructure to support secure, scalable and interoperable financial products and services. Davis Polk represented Grayscale Investments with a team composed by: partners Joseph A. Hall and Daniel P. Gibbons and associate Dylan H. Lojac on capital markets matters; partner Zachary J. Zweihorn and associates Justin Levine, Boaz B. Goldwater and Abigail Barney on financial institutions advice; and partners Patrick E. Sigmon and Lucy W. Farr and associates William Liang and Seth Cole on tax matters. Members of the Davis Polk team were based in the New York and Washington DC offices.

Grayscale Chainlink Trust ETF launches as first US Chainlink ETF

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