Crypto Whales Boost Chainlink (LINK) Holdings Amid ETF Launch
Chainlink (LINK) is making waves in the cryptocurrency space, with recent developments drawing increased attention from investors, particularly crypto whales. As the second spot ETF tied to LINK launches, institutional interest continues to grow, signaling confidence in Chainlink’s future role in blockchain technology.
Introduction of the Bitwise Chainlink ETF
The Bitwise Chainlink ETF (CLNK), launched on January 14, is now trading on NYSE Arca. This landmark ETF offers a new way for investors to engage with LINK, featuring a favorable 0.34% management fee temporarily waived for the first three months on assets up to $500 million. On its opening day, CLNK recorded $2.59 million in net inflows and added $5.18 million to its net assets, with a trading volume of $3.24 million.
Why Chainlink Matters
According to Matt Hougan, Chief Investment Officer at Bitwise, “Chainlink provides the essential oracle infrastructure that powers risk management and financial decision-making for blockchain adoption.” This infrastructure emphasizes Chainlink’s significance as a central player in bridging blockchain technology with mainstream financial systems, making it an attractive asset for both private and institutional investors.
Growing Institutional and Whale Activity
Chainlink isn’t only appealing to institutional investors. On-chain data has shown significant activity from whale wallets shifting their LINK holdings into self-custody—a move associated with long-term accumulation. For instance, a prominent whale wallet recently moved 139,950 LINK (worth $1.96 million) from Binance, bringing its total holdings to 342,557 LINK ($4.81 million) within two days. Another wallet followed suit, withdrawing 207,328 LINK valued at $2.78 million.
The Bigger Picture: LINK ETFs and Whale Accumulation
The debut of CLNK marks the second LINK-focused ETF in the market. Grayscale’s Chainlink Trust ETF (GLNK), launched in December, experienced substantial initial success with $37.05 million in inflows on its first day. Combined, the two funds have pushed total LINK ETF net assets close to $100 million, showcasing a new layer of interest in Chainlink.
Meanwhile, recent data also reflects a positive trend among large holders and crypto whales. Whale balances grew by 1.37% last week, while LINK balances on exchanges shrank by 1%, affirming a long-term holding mindset and growing trust in Chainlink’s potential.
How to Invest in Chainlink (LINK)
For those interested in following institutional trends or diversifying crypto portfolios, investing in LINK has become more accessible. Products like the Bitwise Chainlink ETF provide an excellent gateway to exposure in the growing blockchain oracle sector. Additionally, self-custody remains an attractive option for seasoned crypto enthusiasts.
The Current LINK Market
Despite the positive developments, LINK is still subject to broader market dynamics. Over the last 24 hours, LINK’s value has decreased by 1.2%, trading around $13.8. However, the ongoing dedication of both whales and institutions to LINK suggests a bright future for this altcoin.
