Grayscale’s Chainlink trust is set to uplist to NYSE Arca, potentially launching the first U.S. spot Chainlink ETF this week. Bloomberg data indicates a December 2 shift from OTC to the exchange. The trust’s S-1 amendment confirms it will hold LINK as its sole asset.

The transition to “Grayscale Chainlink Trust ETF” mirrors previous Grayscale launches, like DOGE and XRP ETFs. NYSE Arca’s listing notice is expected close to the trade date, following similar sequences for previous ETF launches. Authorized participants will handle creations and redemptions for GLNK.

The ETF will initially operate on a cash-only model until approval allows in-kind LINK transfers. This approach may result in wider prices initially, as authorized participants handle more buying and selling. Chainlink’s supply model differs from DOGE and XRP, with a fixed maximum supply of 1 billion tokens.

Dogecoin follows an uncapped, inflationary model, while XRP has a pre-minted total supply of 100 billion tokens. Decrypt has reached out to Grayscale for further details. GLNK could test demand for single-asset altcoin ETFs, with early trading in DOGE and XRP ETFs showing varying levels of turnover.

Market participants await NYSE Arca’s listing notice for final confirmation, with trading expected to begin once the effective date is posted.

Read more at Yahoo Finance: Grayscale’s Chainlink ETF Set for Potential NYSE Arca Debut This Week