After experiencing a significant downturn over the weekend, Chainlink (LINK) has seen a resurgence in its price, largely attributed to Grayscale’s recent filing with the U.S. Securities and Exchange Commission (SEC) seeking approval to launch a spot Chainlink exchange-traded fund (ETF). This development is indicative of increasing institutional interest in the decentralized oracle project, coinciding with LINK’s consolidation within a long-term technical pattern that may be poised for an upward breakout.
Grayscale’s filing aims to convert its existing Chainlink Trust into a regulated spot ETF. If granted approval, this fund would be traded on NYSE Arca under the ticker GLNK, with Coinbase Custody designated as the official custodian. Mirroring the company’s previous ETFs for Bitcoin and Ethereum, the proposed Chainlink ETF would manage share creations and redemptions in cash, although in-kind redemptions might be permitted in the future, pending regulatory approval. One distinctive aspect of this filing is the proposed staking feature; Grayscale has indicated that a portion of the LINK holdings could be staked, contingent on regulatory and tax considerations. The rewards generated from staking could either be kept, sold, or distributed to shareholders, underscoring Chainlink’s critical role in ensuring the security of decentralized data feeds.
Grayscale’s application for a Chainlink ETF forms part of a broader strategy to diversify into altcoin ETFs, extending beyond Bitcoin (BTC) and Ethereum (ETH). The firm has also filed for products linked to other altcoins like Avalanche (AVAX), Dogecoin (DOGE), Litecoin (LTC), Solana (SOL), and XRP. Additionally, various competitors are entering the ETF arena; Bitwise submitted its own Chainlink ETF application in August 2025 while others, including VanEck, 21Shares, Franklin Templeton, and REX Shares, are pursuing ETFs related to additional prominent tokens. This uptick in ETF filings occurs in a context of a more favorable U.S. regulatory environment, especially following the Trump administration’s comparatively supportive stance on crypto, contrasting with the Biden era. This shift has led to rising expectations for approvals of altcoin ETFs, potentially paving the way for products that provide investors with exposure to essential infrastructure assets like Chainlink.
The announcement regarding the Chainlink ETF has positively influenced market sentiment around LINK, as the token surged past $23.00, recording gains of over 2% in the process. Currently, LINK boasts a market capitalization of approximately $15.6 billion, securing its position as the 13th largest digital asset. The daily trading volume remains robust, exceeding $870 million, which indicates ongoing market liquidity.
From a technical perspective, LINK is positioned within a multi-year symmetrical triangle formation. Analysts are closely watching for a potential retest of the $16 support zone, which has been a focal point for whale accumulation and might serve as a critical base leading up to a breakout. On the upside, key resistance levels are identified in the $25–$27 range, with a more significant pivot point at $31, which has historically impeded rallies. A successful breakout above $31 would set LINK on a trajectory to revisit its previous all-time high near $52. Additionally, the symmetrical triangle pattern suggests a much larger price movement, with projections indicating a possible target of $100 in the long term.
