TLDR
- Bitwise’s spot Chainlink ETF appeared on the DTCC registry under ticker CLNK on Tuesday, typically a positive signal that launch may be approaching.
- The DTCC listing is a procedural step for clearing and settlement but does not guarantee SEC approval of the fund.
- Bitwise has not yet filed Form 8-A, one of the final documents required before securities can be offered on an exchange.
- The US government shutdown, now in its 42nd day, has delayed SEC decisions on dozens of crypto ETFs awaiting approval.
- LINK price dropped 7% to $15.20 despite ETF progress, with trading volume down 20% and futures open interest falling 8%.
The Bitwise Chainlink exchange-traded fund appeared on the Depository Trust and Clearing Corporation registry on Tuesday. The listing shows the fund under ticker symbol CLNK in both active and pre-launch categories.
🚨 LATEST: Bitwise Chainlink ETF advances with DTCC listing approval.$LINK pic.twitter.com/AW4u9flSrf
— Nathan Jeffay (@NathanOnCrypto) November 11, 2025
The DTCC serves as a post-trade market infrastructure platform. It handles clearing, settlement, and recording of transactions for stocks and ETFs. The platform ensures trades are processed efficiently and securely across markets.
The listing represents a procedural step in the standard clearing and settlement process. It does not guarantee approval from the US Securities and Exchange Commission. However, DTCC listings have historically been good indicators that a product may receive approval soon.
Bitwise has not yet filed Form 8-A for its Chainlink product. This document is one of the final filings required before securities can be offered on an exchange. The form often signals that a product launch is close.
The asset manager first filed a Form S-1 statement for the ETF in August. The filing was submitted to register the product with the SEC. The ETF would track the price of LINK, the token that powers Chainlink’s decentralized oracle network.
Government Shutdown Creates Delays
The US government shutdown has now reached its 42nd day. Dozens of spot crypto ETFs are currently waiting for SEC approval during this period. The shutdown has forced the SEC to operate with limited capacity and funding.
The Senate passed a funding bill that should end the shutdown sometime this week. The House still needs to vote on the measure. Until then, regulatory decisions remain on hold.
Some ETFs have become auto-effective for listing and trading on exchanges. During a government shutdown, an issuer’s S-1 filing automatically becomes effective 20 days later without SEC intervention. This applies to certain products like Solana, HBAR, and Litecoin ETFs.
The SEC created new generic listing standards in September. These rules allow approval of crypto investment products without case-by-case review. The standards were released on September 17, less than two weeks before the government shutdown began.
Price Movement Contradicts ETF Progress
LINK price fell more than 7% over the past 24 hours. The token traded at $15.36 after reaching an intraday low of $15.20. The 24-hour high was $16.66.
$LINK on the monthly. 🔗
Looking like a gift from the bull Gods.
Targeting $72 on the breakout. pic.twitter.com/8ImYRR357U
— James (@JamesEastonUK) November 11, 2025
Trading volume dropped 20% in the last 24 hours. This decline indicates reduced interest among traders despite the ETF developments.
The cryptocurrency is trading below both the 50-day and 200-day moving averages on the daily chart. The price would need to rebound above $18.60 to confirm upside momentum.
Derivatives market data showed heavy selling pressure. Total LINK futures open interest fell more than 8% to $645.28 million in 24 hours. Four-hour futures open interest on Binance dropped 4%, while OKX saw a 4.30% decline and Bybit recorded an 11% decrease.
Grayscale is also developing a spot Chainlink ETF. That product may face more regulatory hurdles than Bitwise’s version because it seeks to incorporate staking features.
Crypto asset managers have filed ETFs for various altcoins including Dogecoin, Solana, Aptos, Avalanche, and Hedera. The Bitwise Chainlink ETF listing on DTCC has sparked discussion in the crypto community about potential approvals once the government reopens.
