Bitwise Chainlink ETF is an exchange-traded product that provides retail and institutional investors with cost-efficient exposure to Chainlink, a digital asset token, without requiring them to directly acquire or custody the asset. The Trust holds Chainlink as its sole asset and earns revenue through a sponsor fee of 0.34% per annum on holdings, transaction fees paid by Authorized Participants for creation and redemption orders, and future staking rewards. Shares trade on the secondary market like traditional ETFs, served by diverse market participants including passive investors, institutional allocators, broker-dealers, and traders, while the underlying Chainlink token circulates through spot trading on major cryptocurrency exchanges and peer-to-peer transactions.