The debut of Grayscale’s first U.S. LINK ETF pulled in roughly $41 – $41.5 million on day one, sparking a sharp rally in LINK, but the token remains far from its all-time high.
Key Takeaways:
- Grayscale Chainlink Trust ETF ($GLNK) recorded about $41 - $41.5M of inflows on its first day.
- LINK logged a notable uptick from prior lows to around $14.70 as of this writing (9:45AM UTC), making it up 9% over the past week.
- Still, LINK remains well below its previous all-time highs, which means significant upside would require a sustained institutional, macro, or sentiment-driven rally.
Grayscale’s conversion of its existing Chainlink Trust into a fully tradable ETF, GLNK, marked a major milestone for the cryptocurrency this week. The product, now listed on NYSE Arca, provides regulated exposure to LINK without requiring investors to use a crypto wallet or access a crypto exchange. According SoSoValue data, the ETF attracted approximately $41 million in net inflows during its first trading session, a figure analysts describe as an impressive start for an altcoin-focused product.
Total LINK Spot ETF inflow chart shows a total of $41M on its first day. Source: SoSoValue
The inflows helped lift market sentiment around Chainlink, with the token reacting positively as traders factored in the potential for steadier, more institutional-driven demand. Market analysts noted that while the inflow amount is modest compared to major Bitcoin or Ethereum ETFs, it represents meaningful confidence in a token heavily used in smart contracts and decentralized data infrastructure.
Analysts Weigh In on Institutional Demand and Infrastructure Value
Analysts highlight that Chainlink’s unique role within DeFi continues to differentiate it from other altcoins. The network’s oracle services power data feeds across lending protocols, derivatives platforms, and blockchain-based financial products. For many analysts, the arrival of an ETF validates the view that Chainlink represents “infrastructure value” rather than mere speculative momentum.
Market researchers said the ETF marks “one of the strongest early signals that institutional investors are looking beyond Bitcoin and Ethereum.” They add that demand for a dedicated Chainlink product indicates recognition of the token’s long-term utility in both decentralized and enterprise blockchain environments.
However, some analysts caution that the impact of the ETF will need several weeks of flow data to determine whether demand is structural or driven by short-term enthusiasm. They note that the broader crypto investment landscape remains sensitive to macroeconomic pressures, which may affect sustained inflows.
LINK Shows Early Strength After ETF Launch
As of this writing (8:00AM UTC), TradingView’s live data shows LINK is trading around $14.68, reflecting gains of 2.4% in the last 24 hours, a price near its current intraday high of approximately $14.89 as per CoinGecko. Same source also shows intraday lows were touched near $14.29, showing a mild, but positive 24-hour volatility.
Meanwhile, LINK’s technical indicators favor bullish trend, as the 14-day Relative Strength Index (RSI) of 55 shows a growing upward momentum. Additionally, the token continues to stabilize above several key moving averages. These indicators suggest that traders may be positioning for continued upside, especially if ETF inflows remain strong.
However, while it shows an improving setup, LINK is still miles behind its previous all-time high. Analysts points out that being able to reclaim that level requires combination of sustained ETF demand, renewed market-wide optimism, and continued growth in oracle adoption across large-scale blockchain applications.
Outlook: Can LINK Build Enough Momentum to Reclaim Its ATH?
The strong debut of GLNK has raised hopes that institutional interest could support a longer-term uptrend for Chainlink. To approach its all-time high, LINK will need consistent ETF inflows, stronger on-chain activity, and a favorable macro environment that lifts altcoins alongside Bitcoin. While the launch is a milestone for mainstream exposure, the token’s recovery remains in its early stages.
Summary
Grayscale’s GLNK ETF drew about $41M on day one, lifting LINK prices and sentiment, but the token will likely need sustained institutional inflows, stronger on-chain usage, and broader market support to meaningfully challenge its ATH.
