Grayscale launches first-ever US Chainlink ETF as LINK price surges back to life

Grayscale has rolled out the first US Chainlink ETF, ticker GLNK, giving investors a regulated path into one of crypto’s most important infrastructure networks. The fund, now trading on NYSE Arca, marks a shift in how traditional finance is approaching blockchain: less hype, more infrastructure, and a growing appreciation for the rails that power decentralised applications.

The market noticed right away. Chainlink’s native token, LINK, jumped back to around $14.61, recovering nearly 30% from its weekly low, a dramatic reversal fuelled by the ETF’s debut and a sudden burst of investor activity.

GLNK’s first trading day delivered numbers that surprised even seasoned ETF watchers:

• $41 million in first-day inflows

• $64 million in total assets, including seed capital

• $13 million in day-one trading volume, far higher than the old Grayscale trust ever saw

Bloomberg ETF analyst Eric Balchunas called it a “solid opening” and suggested the momentum could continue through the week. Still, analysts such as James Seyffart offered a grounded view: strong, yes, but not a blockbuster comparable to Bitcoin or Ethereum ETF launches.

The message is clear: institutional appetite for altcoins is real but selective.

Compared to launches of Solana and XRP ETFs, GLNK held up remarkably well, reinforcing that investors are increasingly allocating to the infrastructure side of crypto, not just the big-name tokens.

The market’s reaction? LINK surged more than 6% within hours, while trading volume spiked roughly 180% above its daily average.

Nearly 5 Million LINK Scooped Up in 48 Hours

Alongside the ETF buzz, on-chain behavior told its own story.

Analysts reported that large holders, also known as crypto “whales,” accumulated approximately 4.73 million LINK within 48 hours. That’s tens of millions of dollars worth of supply removed from exchanges.

This kind of rapid accumulation usually reflects growing confidence in the asset’s near-term prospects. A shrinking circulating supply + rising demand from both retail and institutional channels often sets the stage for continued upward pressure.

Why Investors care and why it matters?

Grayscale has been clear about what GLNK represents. It’s not simply a way to get exposure to LINK; it’s a way to invest in a critical piece of blockchain plumbing.

Chainlink powers:

• Decentralised oracle networks

• Data feeds for DeFi apps

• Tokenized assets

• Cross-chain communication

• Financial benchmarks used by traditional institutions

This isn’t speculative territory; it’s infrastructure.

Projects like FTSE Russell, which integrate Chainlink data, highlight how deeply embedded the network has become in both crypto-native and traditional systems.

For investors who want exposure to the rise of tokenized finance without directly holding crypto, GLNK offers a regulated route, though it comes with the caveat of being a non-40 Act structure, meaning it carries slightly higher regulatory complexity.

Meanwhile, LINK remains central to Chainlink’s operations, securing nodes and incentivising data providers. With whale buying, ETF inflows, and locked reserves tightening supply, analysts say the conditions are forming for potentially stronger price action if demand continues to climb.

On the charts, LINK has flipped several key indicators:

• Reclaimed its 7-day SMA and 7-day EMA

• MACD shows a bullish divergence

• RSI around 54 indicates controlled upward momentum

But LINK still faces some overhead barriers:

• Initial resistance at $14.79

• A larger supply zone stretching toward $16.60

Analysts expect the token to consolidate between $14.2-$15.4 before any big breakout attempt. Despite the renewed optimism, LINK remains down 39% year-on-year, reminding traders that broader macro forces, rate expectations, and risk appetite still weigh on the asset.

The next major catalysts will likely be:

• Continued whale positioning

• ETF inflows over the next several weeks

• On-chain activity across DeFi and tokenised assets

Why This ETF Launch Matters

GLNK’s debut isn’t just another altcoin ETF moment. It signals a shift in how investors are valuing blockchain’s structural layers. Infrastructure narratives,  oracles, data, interoperability, tokenisation, are stepping into the spotlight, and Chainlink sits at the centre of all of them.

For now, the combination of ETF demand, whale accumulation, and recovering sentiment provides LINK with a foundation it hasn’t enjoyed for months. Whether it can break through its resistance zones will depend on how aggressively institutional money flows into GLNK in the coming days.

But one thing is already crystal clear to understand:

Chainlink’s first US ETF has pushed it back into the conversation, not as a speculative token, but as a core player in the next era of blockchain infrastructure.