The Volatility Shares 2x Chainlink ETF (CHNU) is a leveraged exchange-traded fund from Volatility Shares that seeks daily investment results, before fees and expenses, equal to twice the daily performance of Chainlink (LINK). The fund began trading on Cboe on April 1, 2026, under the ticker CHNU. It does not hold LINK directly. It gets its exposure through cash-settled LINK futures contracts, backed by cash and other collateral, and partly through a Cayman Islands subsidiary.

Chainlink is a decentralized oracle network. It connects blockchain smart contracts to off-chain data such as asset prices, reserve attestations, and other real-world information. Its Cross-Chain Interoperability Protocol (CCIP) lets value and messages move between blockchains. DeFi protocols use Chainlink widely, and traditional financial institutions have run pilots on it to test tokenized assets. LINK is the network’s native token and is used to pay node operators for oracle services.

Unlike spot crypto trusts, CHNU is registered under the Investment Company Act of 1940 as a non-diversified fund and is also classified as a commodity pool. Its total expense ratio is 1.85%, and Foreside Fund Services, LLC serves as distributor. The fund targets 2x returns for a single day only. Because of daily compounding, returns over longer periods can differ significantly from twice LINK’s performance. LINK and LINK futures have been highly volatile, and the fund carries futures, rebalancing, and new-fund risks. Investors could lose the full value of their investment within a single day.