Grayscale has submitted an application to the SEC (SEC) to convert its Chainlink Trust into a Spot ETF, planning to trade under the name GLNK on the NYSE Arca exchange. The application includes potential staking features and will convert this $29 million trust into an ETF through cash creation and redemption. LINK rose 3% due to a general pump in alts. If approved, GLNK will provide regulated exposure to Chainlink and may earn staking rewards, depending on regulatory guidance.

LINK0.36%
ARCA-22.02%
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