Grayscale Chainlink ETF draws $41M on debut, but not ‘blockbuster’
Analysts called the Chainlink ETF’s debut a “solid” launch, but the development has yet to attract enough liquidity to reverse the LINK token’s 39% decline over the past year.
Grayscale’s launch of the first US spot Chainlink exchange-traded fund (ETF) drew strong interest on its first day of trading, suggesting investors still have an appetite for regulated altcoin products despite a broader crypto market slump.
Grayscale’s Chainlink (LINK) ETF debuted with $41 million in cumulative net inflows and $13 million worth of “solid” trading volume during the first day, said Eric Balchunas, Bloomberg’s senior ETF analyst, in a Wednesday X post. “$41m in first day flows. Another insta-hit from the crypto world, only dud so far was Doge, but it’s still early.”
The debut adds to signs that institutional and professional investors are waiting on the sidelines for more regulated ways to gain exposure to altcoins that can be integrated into corporate or fund strategies.
