ETF Boom Continues: This Altcoin Could Be Next After XRP & DOGE
Chainlink (LINK) is emerging as the leading candidate for the next major altcoin ETF following the launches of XRP and Dogecoin ETFs.Summary
Despite a recent downtrend, Chainlink (LINK) is gaining traction as the potential next altcoin to receive a spot Exchange Traded Fund (ETF) after XRP and Dogecoin. This speculation is fueled by Grayscale publishing a research report highlighting LINK's role as critical infrastructure for secure off-chain data communication, suggesting institutional conviction.
Further supporting this narrative, Bloomberg ETF analyst Eric Balchunas indicated that a Chainlink ETF, possibly Grayscale's GLINK, is in development and could launch soon, potentially by early December. Adding weight to the possibility, the Depository Trust & Clearing Corporation (DTCC) has listed the Bitwise Chainlink ETF Beneficial Interest.
Currently, LINK is trading near resistance, and the approval of a spot ETF could provide the necessary catalyst to break its month-long downtrend, potentially pushing its price significantly higher, whereas delays could lead to further declines.
(Source：BeInCrypto)