The Volatility Shares Chainlink ETF is an actively managed exchange-traded fund from Volatility Shares that gives investors exposure to LINK, the native token of the Chainlink network. The fund trades on Cboe BZX under the ticker CHNL and launched on April 1, 2026. It does not hold spot LINK. Instead it gets its exposure through LINK futures contracts, held partly through a Cayman Islands subsidiary, with the rest of its assets in U.S. Treasury bills and cash.

Chainlink is a decentralized oracle network. It connects smart contracts to off-chain data such as asset prices, and it supports cross-chain messaging through its Cross-Chain Interoperability Protocol (CCIP). Many DeFi lending and derivatives protocols rely on its price feeds, and traditional financial institutions have tested it for tokenization and settlement workflows. LINK is used to pay node operators and to secure the network through staking.

The fund is a non-diversified series of Volatility Shares Trust, is registered under the Investment Company Act of 1940, and is also treated as a commodity pool under CFTC rules. Its expense ratio is 1.15%. Foreside Fund Services serves as distributor. Futures-based exposure can track spot LINK prices imperfectly because of roll costs, margin requirements and limited liquidity in the developing LINK futures market. LINK is highly volatile, and investors could lose some or all of their investment