$41M Pours Into First LINK ETF: Will Chainlink Finally Break Its ATH?

The Grayscale Chainlink Trust ETF ($GLNK) launched on NYSE Arca, attracting approximately $41.5 million in net inflows on its debut day, converting Grayscale's existing Chainlink Trust from 2021. This launch signifies expanding institutional interest beyond Bitcoin and Ethereum into oracle network tokens like Chainlink (LINK). Grayscale CEO Peter Mintzberg called the launch a "clear signal of broader market demand." Concurrently, LINK experienced a technical breakout from a month-long downward channel, fueling speculation about reaching new all-time highs. On-chain data shows significant whale accumulation, with 39 new wallets withdrawing nearly 10 million LINK from Binance since October, indicating strong holder confidence. However, risks remain, as some earlier accumulating whales currently face unrealized losses. While Open Interest has risen, suggesting renewed trader engagement, analysts caution that profit-taking by these earlier large holders could limit short-term gains despite the strong institutional capital inflow via $GLNK.

(Source：BeInCrypto)