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Crypto whales are increasing their exposure to Chainlink (LINK) as a second temporary altcoin-linked exchange-traded fund enters the market this week.
Increased institutional activity and large yields indicate growing confidence in Chainlink’s outlook. However, LINK has fallen more than 1% in the last 24 hours, in line with the broader market’s decline.
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Bitwise Chainlink ETF started with $2.59 million in revenue
The Bitwise Chainlink ETF (ticker: CLNK) began trading on the New York Stock Exchange on January 14. CLNK is working Barsoom Management of 0.34%. However, Bitwise waives these fees for the first three months on assets up to $500 million.
“Chainlink provides the underlying oracle infrastructure that bridges that gap, supporting the risk management and financial decision-making required for mass adoption. With CLNK, investors now have a new way to invest in this fundamental layer of the blockchain economy.” He declared Matt Hogan, Chief Investment Officer at Bitwise.
According to data from SoSoValue, the opening day saw $2.59 million in net flows. The net assets of the fund reached $5.18 million, and the trading volume reached $3.24 million.
This launch marks the second US ETF linked directly to LINK. Attracting Grayscale Chainlink Trust ETF (GLNK), Which was first launched in early December, Streaming is worth $37.05 million on its first day.
In comparison, it seems Bitwise’s initial flows are modest . However, the fund launch pushed the LINK Fund’s total net assets to $95.87 million, bringing the figure closer to the $100 million mark.
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Link’s whale collection grows
Beyond the institutional interest, Chainlink attracts Even the attention Specialized digital whales. On-chain data shows that a whale wallet (0x10D9) withdrew 139,950 LINK from Binance, worth about $1.96 million.
This comes after a previous accumulation phase in which the same wallet withdrew 202,607 bonds, worth about $2.7 million, from the exchange.
“Now the whale has $342,557 LINK worth $4.81 million accumulated in the last two days,” to publish The Onchain Lens website.
Additionally, Onchain Lens pointed to another whale wallet, 0xb59, which I pulled 207,328 LINK worth about $2.78 million on January 12th.
The increased interest in whaling is not an isolated development. BeInCrypto reported last week that The older carriers were collectors Bulk LINK. Second For the data Nansen, whale wallet balances increased 1.37% in the past week, while LINK balances held on the exchange fell 1% over the same period.
This divergence indicates that large investors are moving tokens from exchanges to self-custody, a typical pattern associated with long-term accumulation rather than short-term trading.
However, broader market pressures continued to impact LINK. Data from BeInCrypto Markets showed that the altcoin fell by 1.2% in the past day. At the time of writing, LINK Trade to $13.8.
