Grayscale just launched their new Chainlink ETP under the ticker GLNK, and it absolutely crushed it on day one, pulling in around $41 million in inflows. This pushed the total assets to about $64 million, which is pretty impressive, especially since the crypto market has been kind of slow lately.
Bloomberg analyst James Seyffart said this was a really strong opening for a new product considering how sluggish things have been the past month. He mentioned the demand was even more impressive given the current market conditions, which haven’t been great.
GLNK trades on NYSE Arca and basically lets people get exposure to Chainlink without needing to deal with wallets or private keys. It’s the first US exchange-traded product that’s directly tied to LINK, which is a big deal for folks who want regulated access through their regular brokerage accounts.
Eric Balchunas from Bloomberg tracked about $13 million in volume on the first day and called it another instant hit because the liquidity looked really solid. LINK itself shot up over 6%, and trading volume exploded by more than 180%, jumping above $14.
There’s also another Chainlink product from Bitwise called CLNK that’s listed on the DTCC, but that one’s still waiting for full exchange approval. Both products are making it way easier for institutions to get into Chainlink.
Conclusion
Grayscale’s new GLNK ETP debuted with strong inflows, high volume, and boosted LINK’s price, signaling rising institutional interest in regulated Chainlink exposure despite a slow crypto market.
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