Key TakeawaysThe filing does not mention staking, validator activity, or yield-related features.Bitwise will also need to file a 19b-4 form, which formally starts the SEC’s review of the product.Bitwise Investment Advisers has moved to launch a Chainlink (LINK) spot exchange-traded fund in the United States, submitting a preliminary S-1 registration with the Securities and Exchange Commission(SEC). If approved, it would be the first ETF in the country tied directly to the performance of LINK, allowing people to buy and sell shares using the token.The SEC filing shows the proposed fund is designed as straightforward exposure to the token’s spot price. It does not mention staking, validator activity, or yield-related features. Earlier this year, the SEC had stated that staking is not considered a securities law violation.Key information such as the fund’s ticker, listing venue, and expense ratio were not included in the filing. To move the process forward, Bitwise will also need to file a 19b-4 form, which formally starts the SEC’s review of the product.In July, Bitwise Chief Investment Officer Matt Hougan had included Chainlink among the list of “cleanest” infrastructure plays to invest. The latest development comes against the backdrop of several firms rushing to apply for crypto-linked ETFs. Earlier this week, Grayscale filed to convert its Avalanche Trust into a spot AVAX ETF. Earlier this week, Canary Capital, in a filing with SEC, noted that its fund, the Canary Trump Coin ETF, would directly hold and offer exposure to the Official Trump coin.ADA Price Analysis: Is It a Good Investment Option10 Best Crypto Exchange in SingaporeFTX-owned LedgerX up for sale, 10 firms interestedCoinCodeCap WeekInFocus: July 7, 2024