Chainlink Jumps 7% as Grayscale ETF Draws $37M in Initial Investments

Chainlink (LINK) Jumps 7% on U.S. Spot ETF Debut

Chainlink’s LINK surged 7% over the past 24 hours, outperforming most major cryptocurrencies as U.S. investors gained access to the first U.S.-listed spot Chainlink ETF.

The Grayscale Chainlink Trust ETF (GLNK), converted from a closed-end fund and traded on NYSE Arca, recorded $37 million in net inflows on its first day, according to SoSoValue. The launch marks a key milestone for institutional adoption, giving traditional investors direct exposure to LINK via brokerage accounts.

Trading activity around LINK spiked, with volume climbing 183% above the 24-hour average, peaking at 6.71 million tokens traded at 14:00 UTC. LINK briefly reached $14.63 before pulling back, while maintaining an ascending trendline from its $13.35 base and registering consecutive higher lows—indicating a continued bullish structure, CoinDesk Research noted.

LINK’s gains were driven by the ETF launch and a broader rotation into tokens with clear utility narratives. The CoinDesk 5 Index rose 3.3% on the day, while LINK outperformed the benchmark by over four percentage points.

Technical Snapshot:

• Support/Resistance: Support at $14.28 with psychological backing at $14.40; resistance at $14.63.
• Volume: 183% surge suggests institutional participation and resistance testing.
• Chart Patterns: Consolidation between $14.395–$14.445 could serve as a launchpad for a breakout.
• Targets & Risk/Reward: Near-term target at $14.63, with potential upside if support holds above $14.28.

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