Grayscale, a firm specializing in cryptocurrency asset management, is preparing to launch the first ever spot Chainlink exchange-traded fund (ETF) in the US as reported by Nate Geraci, the co-founder of ETF Institute. \n\n"The launch is scheduled for this week… This will be the first spot LINK ETF available. Grayscale plans to convert its Chainlink private trust into an ETF," said Geraci in a post on X. \n\nThis news arrives as another LINK ETF by Bitwise is also in progress. \n\nImage \nSource: Nate Geraci\n\nGeraci’s expectations align with forecasts from Bloomberg Intelligence, which noted that Grayscale’s product is anticipated to launch on December 2, according to Bloomberg’s senior ETF analyst, Eric Balchunas. Recently, Balchunas remarked on the potential for over 100 ETFs to debut in the next six months. \n\n"We anticipate five spot crypto ETFs to launch over the next six days. While we cannot specify beyond that, we estimate a continuous stream of launches (probably over 100 in the upcoming six months)," Balchunas mentioned on X. \n\nUnlike several other Grayscale ETFs, the Chainlink Trust will transition into an ETF five years after its inception in late 2020. This investment vehicle will yield returns by tracking the spot price of LINK and income from staking LINK. \n\nGrayscale is optimistic about the Chainlink ecosystem, previously referring to it as a “critical connective tissue” linking cryptocurrency with traditional finance in a recent research document. \n\nWith the change in leadership at the SEC this year, the approval process for crypto ETFs in the US has accelerated. Several asset-backed ETFs, including those related to Solana, XRP, and Dogecoin, received official approval this year. \n\nLast month, Grayscale additionally introduced a spot XRP and DOGE ETF.