Grayscale Chainlink Trust ETF Financials

GLNK

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Grayscale Chainlink Trust ETF (GLNK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI GLNK FY2025 2026-05-08

A fully equity-funded balance sheet and pass-through cash structure drive this vehicle more than operating profitability.

Between FY2024 and FY2025, assets expanded from $22.4M to $73.8M while liabilities stayed at $0, but that larger footprint did not come from profits compounding inside the vehicle: operating cash flow was -$28.7M and was offset almost exactly by $28.7M of financing inflow, so growth was funded by new capital entering rather than by internally generated cash.

The zero-liability structure in both FY2024 and FY2025 means balance-sheet risk is tied to asset value movement, not debt service. That makes the jump from positive net income of $4.2M in FY2024 to a loss of -$19.4M in FY2025 more directly relevant to equity holders because there is no creditor layer absorbing part of the swing.

Because assets and equity are the same, ROA and ROE move together; the shift from 18.8% to -26.3% shows returns pass almost one-for-one into shareholder value. Ending FY2025 with $0 of cash despite the financing inflow also suggests cash was not being stockpiled as liquidity but moved through quickly into the underlying asset exposure.

Financial Health Signals

Financial Profile 17/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Grayscale Chainlink Trust ETF's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

100

Grayscale Chainlink Trust ETF carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Returns

Grayscale Chainlink Trust ETF generates a -26.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from 18.8% the prior year.

Piotroski F-Score Weak

0/9

Grayscale Chainlink Trust ETF passes 0 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

1.48x

For every $1 of reported earnings, Grayscale Chainlink Trust ETF generates $1.48 in operating cash flow (-$28.7M OCF vs -$19.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$19.4M

YoY-560.1%

Grayscale Chainlink Trust ETF reported -$19.4M in net income in fiscal year 2025. This represents a decrease of 560.1% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

Grayscale Chainlink Trust ETF held $0 in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

Grayscale Chainlink Trust ETF had 7M shares outstanding in fiscal year 2025.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-26.3%

YoY-45.1pp

Grayscale Chainlink Trust ETF's ROE was -26.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 45.1 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

GLNK Income Statement

Metric	FY25	FY24	FY23
Revenue	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A
Net Income	-$19.4M-560.1%	$4.2M+50.4%	$2.8M
EPS (Diluted)	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q1'25	Q4'24
Revenue	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A
Net Income	-$24.4M	N/A	-$7.8M	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A

GLNK Balance Sheet

Metric	FY25	FY24	FY23
Total Assets	$73.8M+229.0%	$22.4M	N/A
Current Assets	N/A	N/A	N/A
Cash & Equivalents	$0	$0	N/A
Inventory	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A
Total Liabilities	$0	$0	N/A
Current Liabilities	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A
Total Equity	$73.8M+229.0%	$22.4M	N/A
Retained Earnings	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q1'25	Q4'24
Total Assets	$73.1M-1.0%	$73.8M	N/A	$22.4M
Current Assets	N/A	N/A	N/A	N/A
Cash & Equivalents	N/A	$0	N/A	$0
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$0	$0	N/A	$0
Current Liabilities	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A
Total Equity	$73.1M-1.0%	$73.8M	N/A	$22.4M
Retained Earnings	N/A	N/A	N/A	N/A

GLNK Cash Flow Statement

Metric	FY25	FY24	FY23
Operating Cash Flow	-$28.7M	N/A	N/A
Capital Expenditures	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A
Financing Cash Flow	$28.7M	N/A	N/A
Dividends Paid	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q1'25	Q4'24
Operating Cash Flow	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

GLNK Financial Ratios

Metric	FY25	FY24	FY23
Gross Margin	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A
Return on Equity	-26.3%-45.1pp	18.8%	N/A
Return on Assets	-26.3%-45.1pp	18.8%	N/A
Current Ratio	N/A	N/A	N/A
Debt-to-Equity	0.000.0	0.00	N/A
FCF Margin	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q1'25	Q4'24
Gross Margin	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A
Return on Equity	-33.4%	N/A	N/A	N/A
Return on Assets	-33.4%	N/A	N/A	N/A
Current Ratio	N/A	N/A	N/A	N/A
Debt-to-Equity	0.000.0	0.00	N/A	0.00
FCF Margin	N/A	N/A	N/A	N/A

Frequently Asked Questions

Is Grayscale Chainlink Trust ETF profitable?

No, Grayscale Chainlink Trust ETF (GLNK) reported a net income of -$19.4M in fiscal year 2025.

What is Grayscale Chainlink Trust ETF's return on equity (ROE)?

Grayscale Chainlink Trust ETF (GLNK) has a return on equity of -26.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Grayscale Chainlink Trust ETF's operating cash flow?

Grayscale Chainlink Trust ETF (GLNK) generated -$28.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Grayscale Chainlink Trust ETF's total assets?

Grayscale Chainlink Trust ETF (GLNK) had $73.8M in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Grayscale Chainlink Trust ETF have outstanding?

Grayscale Chainlink Trust ETF (GLNK) had 7M shares outstanding as of fiscal year 2025.

What is Grayscale Chainlink Trust ETF's debt-to-equity ratio?

Grayscale Chainlink Trust ETF (GLNK) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Grayscale Chainlink Trust ETF's return on assets (ROA)?

Grayscale Chainlink Trust ETF (GLNK) had a return on assets of -26.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Grayscale Chainlink Trust ETF's cash runway?

Based on fiscal year 2025 data, Grayscale Chainlink Trust ETF (GLNK) had $0 in cash against an annual operating cash burn of $28.7M. This gives an estimated cash runway of approximately 0 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Grayscale Chainlink Trust ETF's Piotroski F-Score?

Grayscale Chainlink Trust ETF (GLNK) has a Piotroski F-Score of 0 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Grayscale Chainlink Trust ETF's earnings high quality?

Grayscale Chainlink Trust ETF (GLNK) has an earnings quality ratio of 1.48x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Grayscale Chainlink Trust ETF?

Grayscale Chainlink Trust ETF (GLNK) scores 17 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.