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Chainlink (LINK) has been in a sustained downtrend over the past month, falling to $11.5 as market volatility continues to impact major altcoins. Despite this weakness, the sentiment around Chainlink is changing quickly.
With the launch of ETFs with the stature of XRP and Dogecoin this week, LINK is increasingly seen as a leading candidate for the latest altcoin ETF – a catalyst that could restructure its price trajectory.
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Can Grayscale introduce an ETF for Chainlink?
Grayscale recently released an in-depth research report that it says is a strong endorsement of Chainlink’s long-term value. andThe company confirms that LINK works As an important infrastructure, enabling secure communication between on-chain smart contracts and off-chain real data.
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The report notes LINK is the largest non-Layer-1 token by market capitalization, offering widespread exposure to the digital economy. It highlights the expansion of Chainlink’s institutional partners, its growing role in the tokenization of real assets, and the acceleration of demand for its services.
Grayscale’s extensive analysis indicates a deep institutional conviction – a strong sign that the company may be formalizing LINK for its next ETF product.
An analyst suggests the imminent arrival of LINK ETF
Bloomberg ETF analyst Eric Balchunas also raised speculation. In two separate posts, Balchunas said an ETF for Chainlink — possibly Grayscale’s GLINK — is already in development. He indicated for the first time It could be launched from next week.
Balchunas stated: “The Grayscale Dogecoin ETF $GDOG has been approved for the NYSE listing, scheduled to start trading on Monday. The spot XRP fund will also be launched on Monday. $GLNK is also coming soon, after a week I think.”
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After the successful launch of XRP and Dogecoin ETFconfirmed on Monday that GLINK could launch from December 2, in line with the rapid pace of altcoin ETF approvals.
The Deposit, Credit and Clearing Corporation (DTCC) added more weight to the narrative. Their website lists the beneficial interest of the Bitwise Chainlink ETF, indicating that it is a LINK fund. Already ready For approval.
Bitwise has a strong track record in this space, having launched its first Solana ETF and its second XRP ETF. With LINK already listed Bitwise is significantly expanding its portfolio of fundsthe probability of launch in the near term increases significantly.
The price of LINK is waiting for a refund
LINK is trading at $12.81, pressed against the $12.94 resistance level, while staying below a one-month downtrend. However, the technical structure indicates hesitation The request paid from the fund It can change momentum quickly.
If the LINK spot fund is approved, the new capital could arrive to break the trend and push LINK above $13.77 and $14.66. Such a strong increase will help erase the 31% decrease from the beginning of November.
If approvals are delayed, LINK may be lost Support comes back to $11.64 or below. This will completely invalidate the bullish thesis and extend the downtrend of LINK.
