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Bitwise’s proposed Chainlink exchange-traded fund (ETF) has moved a step closer to launch after being added to the Depository Trust & Clearing Corporation (DTCC) registry under the ticker CLNK.

The listing, marked as both active and pre-launch, indicates that preparations are underway for its debut once the U.S. Securities and Exchange Commission (SEC) grants final approval.

DTCC Listing Sparks Optimism for Chainlink ETF Approval

While DTCC listings do not guarantee regulatory clearance, they often precede official approval. The ETF aims to track Chainlink (LINK), the native token that powers Chainlink’s decentralized oracle network, connecting smart contracts to real-world data feeds.

This marks a major milestone for Bitwise, one of America’s leading crypto asset managers, which filed its Form S-1 with the SEC in August and is expected to follow up with Form 8-A, the last step before the ETF can trade on U.S. exchanges.

The progress comes amid a prolonged U.S. government shutdown, now in its sixth week, which has stalled dozens of pending crypto ETF applications. However, optimism is growing after the Senate passed a bill to reopen government operations, potentially expediting long-delayed ETF reviews.

Chainlink’s Expanding Institutional Footprint

If approved, the Bitwise Chainlink ETF would become the first U.S. fund offering institutional exposure to a decentralized oracle network, a critical infrastructure in the decentralized finance (DeFi) ecosystem.

Chainlink provides real-time, tamper-proof data to smart contracts, enabling the automation of payments, lending, and asset management across blockchain platforms.

Analysts suggest that such an ETF could not only expand investor access to LINK but also solidify Chainlink’s position as a cornerstone of Web3 infrastructure.

The move follows Bitwise’s growing portfolio of altcoin ETFs, including funds tracking Solana, XRP, Dogecoin, and Aptos, while competitors like Grayscale are also seeking approval for a similar Chainlink ETF that includes staking features, a structure that may face additional regulatory hurdles.

Market Reactions and the Road Ahead

Despite the bullish regulatory signal, LINK prices slipped 2%, trading around $15.75 after failing to hold above the $17.40 resistance level. Analysts note that broader crypto market weakness and heavy derivatives sell-offs have overshadowed the positive ETF news.

Still, industry observers see the DTCC listing as a key sign of maturing infrastructure for crypto-based financial products.

Once the U.S. government fully reopens and the SEC resumes full operations, the Bitwise Chainlink ETF (CLNK) could lead a new wave of altcoin ETFs into the U.S. market, supporting the growing institutional appetite for blockchain-linked assets and bringing DeFi innovation closer to Wall Street.

Cover image from ChatGPT, LINKUSD chart from Tradingview

The United Arab Emirates has taken a clear step into live testing of a central bank digital currency. A UAE government transfer using a digital dirham took place this week, and officials say the payment settled in less than two minutes. This marks the first recorded transaction in the nation’s pilot program.

UAE Gov’t Transaction Marks Test

According to government and industry reports, the transfer was carried out by the Central Bank of the UAE alongside the Ministry of Finance and the Dubai Department of Finance.

The payment used the mBridge platform, a system designed to link multiple central bank digital currencies. The move was limited to federal and Dubai entities, not to banks or the general public.

Reports have disclosed that the transaction was handled end-to-end in under two minutes, a speed that officials highlighted as proof of technical readiness.

Today, Ministry of Finance & Dubai Finance marked a pivotal milestone in the history of government financial transformation in the UAE, as we executed the first government transaction using the Digital Dirham issued by the Central Bank of the UAE, representing the future of the… pic.twitter.com/gYRiTC1Euh

— Maktoum Bin Mohammed (@MaktoumMohammed) November 11, 2025

Built On A Multi-Central Bank Network

Based on reports, mBridge was chosen because it can connect several central banks and support cross-border settlement. The UAE’s choice signals an intent to test interoperability, not just a domestic ledger.

Some experts say this model could make it easier for central banks to settle with each other without routing everything through correspondent banks. A small test does not mean mass rollout. But the system was tested in a live setting, which moves it past lab trials and into operational territory, according to reports.

What The Pilot Covered

The pilot right now is narrow. It focused on payment flow between government accounts and on how settlements are recorded. Transaction monitoring, privacy safeguards, and operational controls were part of the checks.

Based on reports, authorities also monitored speed, finality, and system stability. No retail wallets or merchants were involved in this stage. The pilot was described as one step in a staged plan that will expand if the tests meet the central bank’s benchmarks.

What Comes Next For The Digital Dirham

According to public statements and media coverage, the Central Bank has indicated a phased approach toward broader use, with some earlier timelines pointing to a possible wider launch in Q4 2025.

If the authorities move forward, future phases could involve private banks, merchant acceptance, and consumer wallets. But regulators will need to resolve questions about privacy, cybersecurity, and how a CBDC will sit alongside existing bank deposits.

Decisions on these issues are likely to shape how quickly the program moves beyond government transfers.

Featured image from Manara Magazine, chart from TradingView