Chainlink (LINK) Price Jumps 7% as First U.S. ETF Records $41 Million Launch Day

TLDR

• Grayscale’s Chainlink ETF (GLNK) launched on NYSE Arca with $37-41 million in first-day inflows
• LINK price jumped 6-7% in 24 hours following the ETF debut, reaching $14.40
• Trading volume surged 180-183% above average as investors responded to the new product
• GLNK reached $64 million in total assets with $13 million in day-one trading volume
• Major investors purchased 4.73 million LINK tokens in a 48-hour period around the launch

Grayscale launched the first Chainlink exchange-traded product in the United States on Tuesday. The fund traded under the ticker GLNK on NYSE Arca.

The new product brought in between $37 million and $41 million in net inflows on its first trading day. Bloomberg ETF analyst James Seyffart called this “a very good opening for a new launch.”

The fund reached $64 million in total assets by the end of its debut session. Day-one trading volume hit approximately $13 million.

LINK price responded to the launch with a 6-7% gain over 24 hours. The token reached $14.40 on Wednesday, outperforming most major cryptocurrencies.

Trading activity around LINK increased sharply. Volume jumped 183% above the 24-hour average, peaking at 6.71 million tokens traded at 14:00 UTC.

The token briefly touched $14.63 before pulling back. It maintained an ascending trendline from its $13.35 base throughout the day.

Strong Investor Response

GLNK represents the first U.S. exchange-traded product tied to Chainlink. The product gives investors exposure to Chainlink through an ETP structure rather than a traditional 40-Act ETF.

The fund directly holds Chainlink’s native token. This allows investors to access the project through standard brokerage accounts.

Bloomberg analyst Eric Balchunas noted the strong liquidity in early trading sessions. He described GLNK as “another insta-hit” among recent crypto ETF releases.

Major investors showed strong interest around the launch. Analyst Ali Martinez reported that large holders purchased 4.73 million LINK in just 48 hours.

Second Chainlink ETF Pending

Bitwise filed for its own Chainlink ETF, listed on the DTCC under ticker CLNK. The DTCC listing represents an administrative step in the approval process.

The appearance on DTCC does not guarantee approval. Market participants are watching for any updates on the Bitwise product.

LINK outperformed the CoinDesk 5 Index by over 4 percentage points. The broader index rose 3.3% on the same day.

The token established consecutive higher lows over the trading session. Price action held above key support levels despite the rejection at session highs.

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