Chainlink's first ETF debuts… Grayscale's 'GLNK' listed on the New York Stock Exchange

The first exchange-traded fund (ETF) tracking the price of Chainlink (LINK) has begun trading on the New York Stock Exchange.

On the 2nd, according to crypto-focused media The Block, Grayscale Investments listed the 'Grayscale Chainlink Trust ETF (GLNK)' on NYSE Arca. The product converted the previously private 'Grayscale Chainlink Trust' into an ETF, with assets under management (AUM) of about $17 million.

Ingu Kang, Grayscale's senior vice president in charge of ETFs, said, "Chainlink plays a key infrastructure role in linking data between blockchains and in tokenization and decentralized finance (DeFi)," adding, "Through GLNK, investors can easily access this in ETF form."

Chainlink is an oracle network that connects blockchains to external data and payment systems, and is widely used by governments, institutions, and DeFi protocols.

The outlet reported, "With the spread of tokenization and DeFi, demand for Chainlink is growing in the processes of creation, valuation, and settlement of on-chain assets."

Meanwhile, Grayscale has recently launched ETFs tracking XRP, Dogecoin (DOGE), and Solana (SOL), in addition to Chainlink, over the past few weeks.