**Grayscale Chainlink Trust ETF (GLNK) Reports 2025 Financial Results**
Grayscale Chainlink Trust ETF (GLNK) released its financial results for the year ended December 31, 2025, showcasing a net decrease in net assets resulting from operations of $19.4 million. This figure is primarily composed of a $48,000 realized loss from LINK transfers to cover the Sponsor's Fee and a $18.9 million net change in unrealized depreciation on LINK investments. The decline in net assets is attributed to a decrease in the price of LINK, from $19.96 per LINK at the end of 2024 to $12.24 per LINK at the end of 2025. The Trust's net assets totaled $73.8 million as of December 31, 2025, reflecting a 229% increase compared to the previous year, driven by the contribution of approximately 4.9 million LINK, valued at $70.8 million, offset by the LINK price depreciation and the withdrawal of approximately 27,893 LINK to pay the Sponsor's Fee.
A significant change during the year was the reduction of the Sponsor's Fee from 2.5% to 0.35%, effective December 2, 2025, coinciding with the listing of GLNK shares on NYSE Arca. The Sponsor also implemented a temporary fee waiver, effective from December 2, 2025, until the earlier of March 2, 2026, or the date the Trust's NAV exceeds $1 billion. The Trust's primary activity involves issuing shares in exchange for LINK deposits and transferring LINK to cover the Sponsor's Fee and other expenses. As of December 31, 2025, each share represented approximately 0.8878 LINK.
Key operational developments included the SEC's approval of generic listing standards, leading to GLNK's listing on NYSE Arca on December 2, 2025, under the ticker symbol "GLNK." This uplisting also initiated the Trust's redemption program. As of March 6, 2026, the Trust had 8,722,010 shares outstanding. The Trust's investment objective remains to reflect the value of LINK held by the Trust, less expenses and liabilities, without actively managing the portfolio or using leverage.
Looking ahead, the Trust faces several risks, including the volatility of LINK prices, regulatory uncertainties surrounding digital assets, and potential security breaches. The Trust's ability to maintain its grantor trust status for U.S. federal income tax purposes is also subject to ongoing evaluation, particularly with respect to staking activities and the treatment of incidental rights. The Sponsor will continue to monitor market conditions and regulatory developments to manage the Trust's operations and protect shareholder interests.
About Grayscale Chainlink Trust (LINK)
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