The Grayscale Chainlink Trust ETF (GLNK) gives equity investors another way to access LINK.
Chainlink’s native token, LINK, surged 13% following the launch of the first Chainlink-focused exchange-traded fund (ETF) on Tuesday, Dec. 2.
LINK is currently trading at $13.38 with a market capitalization of $9.2 billion, according to data from CoinGecko. The price rise comes as the broader crypto market recovered slightly today after a week of losses.
The ETF, called the Grayscale Chainlink Trust ETF (GLNK), was approved by NYSE Arca on Monday. The fund converts the existing Grayscale Chainlink Trust into a publicly traded ETF, making LINK easier for both retail and institutional investors to access. It is the first U.S. ETF focused solely on Chainlink, which powers decentralized oracles.
“Gain exposure to $LINK, the core infrastructure for connecting blockchains to the real world,” Chainlink said in a post on X. “It securely delivers data to smart contracts, automates execution, and enables assets and messages to move safely across chains.”
So far today, GLNK is trading at $11.90, up 6.2% since launching. The fund holds $27.87 million in net assets, with a net asset value (NAV) of $16.79 and an expense ratio of 2.50%. Trading volume so far has reached 860,547 shares, according to Yahoo Finance.
The launch comes as LINK has recorded significant volatility this year, falling 47% over the past year. However, analysts say that the GLNK ETF could help stabilize the token’s price over time.
Over the past few weeks, several other crypto ETFs have also debuted in the U.S., tracking assets like Litecoin, Solana (SOL), and XRP. Grayscale specifically has converted multiple trusts into ETFs, including funds for Dogecoin and SOL.
