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- Strong first-day inflows for the new Chainlink ETF spark fresh interest in regulated altcoin access.
- LINK gains momentum as whale accumulation and technical levels hint at improving bullish pressure.
The Grayscale Chainlink Trust ETF ($GLNK) began trading on NYSE Arca on Tuesday. It recorded an estimated $41.5 million in first-day inflows, placing it among the strongest starts for a crypto ETF beyond Bitcoin or Ethereum. Data from SoSoValue showed that the ETF held $67.55 million in net assets by December 3, with trading volume reaching $13 million.
Grayscale converted its pre-existing Chainlink Trust, which began in February 2021, into this ETF format to give institutional investors regulated access to LINK. This shift allows access to tokens through regular accounts instead of relying only on direct crypto purchases.
Bloomberg’s senior ETF analyst Eric Balchunas remarked on the opening day performance, stating,
“$41m in first day flows. Another insta-hit from the crypto world, only dud so far was Doge, but it’s still early.”
This level of demand supports the idea that investors are now actively seeking regulated alternatives for accessing altcoins.
The new Grayscale spot Chainlink ETF did really solid volume on Day one of $13m and looks like it could see same again today (way more than it ever traded as a trust). Also $41m in first day flows. Another insta-hit from the crypto world, only dud so far was Doge but it's still… pic.twitter.com/wlCemHxkQP
— Eric Balchunas (@EricBalchunas) December 3, 2025
LINK Price Reacts to ETF Launch
Chainlink’s native token LINK climbed to $14.66 during the ETF launch and gained 8.45% over the past week. The price recovery followed a breakout from a declining pattern that lasted nearly a month, reversing its earlier trend.
Technical signals reveal that the coin has moved back above key moving averages. The token is currently trading above the 20, 50, and 100 EMA levels on the 4-hour time-frame. However, the 200 EMA serves as resistance close to $14.38. A strong break above that area could point to a shift in the overall price structure.
The next resistance appears around $15.33, matching the 0.50 Fibonacci retracement. If that barrier clears, the next targets could be $16.20 and $17.46. On the other hand, any pressure from the current region may push the price back toward support between $13.40 and $13.80.
Whale Activity Signals Confidence
Wallet data tracked by Lookonchain revealed that 39 newly created addresses withdrew nearly 9.94 million LINK from Binance in the period starting after October’s market pullback. The value of those tokens totaled about $188 million. This activity points to new entrants building substantial positions.
This type of accumulation usually points to a long-term strategy rather than short-term speculation. The withdrawal periods seen before and after the ETF launch suggest that participants expect price surge in the future.
Grayscale CEO Peter Mintzberg described the new offering a “clear signal of broader market demand for Chainlink exposure,” as institutions show growing interest in oracle network tokens.
