• Grayscale launched the first Chainlink ETF and attracted over $41 million in investor inflows.
• GLNK saw strong trading volumes and a 6% price rise on its first day of trading.
• Major investors bought 4.73 million LINK tokens showing strong interest despite the crypto market downturn.

Grayscale launched the first U.S. exchange-traded product tied to Chainlink yesterday. The product, listed under the ticker GLNK, immediately drew strong investor interest. Inflows from investors totaled over $41 million on the first day. Analysts noted this as a very strong debut for a new fund in a slow market. The product is now traded on NYSE Arca, offering direct exposure to Chainlink’s native token.

The launch is significant as it provides access to Chainlink through an ETP structure, not a traditional 40-Act ETF. This gives investors a new way to engage with tokenization and data-oracle technologies. The initial trading volume of GLNK was high as it registered $13 million in the first day. Trading, however, indicates a growing investor interest despite the wider crypto market weakness.

Strong Market Response

GLNK reached nearly $64 million in assets shortly after launch. The token’s price rose more than 6% within 24 hours. Trading volumes surged roughly 180% above average as investors adjusted positions. Bloomberg analysts highlighted the product’s liquidity as robust, noting continued high activity in early sessions. The ETF’s debut contrasts with lower-performing crypto ETFs, such as the recently released DOGE fund.

Major investors participated actively, purchasing approximately 4.73 million LINK tokens in the first 48 hours. This indicates that institutional demand may play a key role in supporting the product. Experts suggest that this level of participation signals confidence in the ETF structure for digital assets.

Positioning Amid Broader Market

The Chainlink ETF’s launch comes amid a broader market downturn. Crypto prices have struggled over the past month, yet GLNK managed strong inflows. Analysts consider this performance notable given the market environment. The product allows investors to access a key project in on-chain data infrastructure, making it distinct from typical ETFs.

The ETF’s structure carries elevated risk and differs from traditional funds. Investors have been recommended to focus on volatility and token-specific risks. Irrespective of these issues, the market has been interested in products relating blockchain technology to traditional financial products.

Competition and Industry Implications

Attention now turns to Bitwise’s Chainlink ETF, listed under the ticker CLNK on DTCC last month. This listing is an administrative step and not a formal approval. The presence of multiple products could drive further trading activity in Chainlink tokens. Analysts anticipate heightened price movement as investors explore these new opportunities.

GLNK’s launch represents a growing trend of token-based ETPs entering U.S. markets. It offers an entry point into crypto-focused infrastructure projects by traditional investors. Initial trading indicates that the product may become a standard in the launch of subsequent crypto ETFs.

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