Chainlink (LINK) Surges 7% as Grayscale’s Spot ETF Debuts in U.S.

Chainlink’s native token, LINK, rallied 7% over the past 24 hours, outperforming most major cryptocurrencies as U.S. investors gained access to the first U.S.-listed spot Chainlink ETF.

The Grayscale Chainlink Trust ETF (GLNK), converted from a closed-end fund and listed on NYSE Arca, drew $37 million in net inflows on its first trading day, according to SoSoValue. The launch represents a significant step for institutional adoption, giving traditional investors direct exposure to LINK through brokerage accounts.

Trading activity around LINK surged sharply, with volume jumping 183% above the 24-hour average, peaking at 6.71 million tokens traded at 14:00 UTC. LINK briefly touched $14.63 before pulling back, CoinDesk Research noted. Despite the session high rejection, the token maintained an ascending trendline from its $13.35 base, recording higher lows and preserving a bullish structure throughout the day.

LINK’s outperformance was fueled by the ETF catalyst and a broader rotation into tokens with strong utility narratives. The CoinDesk 5 Index rose 3.3% on the day, while LINK’s gains exceeded the benchmark by more than four percentage points.

Key Technical Levels:

• Support/Resistance: Support holds at $14.28, with psychological backing at $14.40; resistance at $14.63.
• Volume Analysis: 183% volume spike signals institutional participation and resistance testing.
• Chart Patterns: Consolidation between $14.395–$14.445 could set the stage for a renewed breakout.
• Targets & Risk/Reward: Near-term target at $14.63, with broader upside possible if buyers maintain support above $14.28