With Federal Register approval to trade on NYSE Arca, the first Chainlink ETF on American soil marks a major step toward institutionalizing access to Chainlink’s oracle technology via a regulated investment vehicle.
Set to launch this week, the ETF comes after Grayscale’s approval to convert its Chainlink Trust into a tradable product on NYSE Arca.
It signals rising institutional interest in crypto infrastructure assets beyond Bitcoin and Ethereum, offering investors seamless exposure to Chainlink without directly holding the tokens and bridging traditional finance with the emerging digital asset ecosystem.
Chainlink is a cornerstone of blockchain infrastructure, enabling smart contracts to securely access real-world data, from financial markets to weather and supply chains, via decentralized oracles. Its native token, LINK, ranks among the top 25 cryptocurrencies by market capitalization, underscoring its influence in the crypto ecosystem.
Therefore, the approval of the U.S.-based Chainlink ETF represents a major milestone for crypto adoption, providing retail and institutional investors with a regulated avenue to gain exposure to blockchain’s infrastructure layer.
Unlike traditional ETFs tied to stocks or commodities, this fund targets the foundational technologies powering the decentralized web, bridging traditional finance and the emerging digital economy.
Chainlink Faces Continued Selling Pressure Amid Descending Price Structure
Market analyst GainMuse notes that Chainlink faces persistent bearish pressure, with sellers defending every attempt at lower highs. After failing to sustain a recent bounce, LINK continues drifting within its descending channel, highlighting cautious market sentiment and the hurdles ahead for a meaningful recovery.
Source: GainMuseChainlink is currently holding critical support at $10.5–$11.0 near the descending channel’s lower boundary. This zone could trigger a short-term rebound or signal a continuation of the downtrend, making it a key level for traders to watch.
GainMuse highlights that a breakout above the descending resistance could shift market dynamics, challenge the current downtrend, and open a path toward the channel’s upper target. Until then, bearish pressure dominates, with repeated rejections and lower highs keeping sellers in control as price hovers around $12.68.
Source: https://zycrypto.com/grayscales-first-chainlink-etf-play-heats-up-while-bears-block-the-breakout/
