Crypto Whales Ramp Up Chainlink Accumulation as Second LINK ETF Goes Live

Crypto whales are significantly increasing their accumulation of Chainlink (LINK) amid the launch of the second US spot ETF tied to the asset, the Bitwise Chainlink ETF (CLNK), which began trading on January 14 with $2.59 million in first-day net inflows. The Bitwise ETF charges a 0.34% fee, though this is waived initially on up to $500 million in assets. This launch brings the total net assets for all LINK ETFs to $95.87 million, following Grayscale's earlier GLNK ETF debut. Concurrently, on-chain data shows large holders, or whales, are actively withdrawing significant LINK amounts from exchanges, with one wallet accumulating $4.81 million worth of LINK over two days. This pattern of whales moving tokens into self-custody, alongside increased institutional interest, suggests growing confidence in Chainlink's long-term outlook, despite LINK experiencing a slight price decline in line with the broader market downturn.

(Source：BeInCrypto)