Key Insights
- •NYSE Arca has issued regulatory clearance for Bitwise’s Chainlink ETF, potentially facilitating increased institutional investment.
- •Chainlink's expanding utility in predictive markets and its role in providing institutional-grade data for Real World Assets (RWAs) are highlighted.
- •The current subdued performance of the LINK cryptocurrency may indicate a potential shift in its trajectory on larger time frames.
The spot ETF market experienced significant activity last year, and 2026 is poised to be an even more dynamic period. The recent approval of a spot Chainlink ETF is contributing to this growing momentum.
NYSE Arca has granted listing approval to Bitwise’s spot Chainlink (LINK) ETF. This marks the latest spot ETF to be listed on the NYSE, with trading scheduled to commence on Thursday.
The Bitwise Chainlink ETF follows Grayscale’s ETF, which received approval in December 2025, making it the second spot ETF for the LINK coin. This latest development underscores the increasing institutional interest in the asset.
Chainlink has solidified its position as a crucial infrastructure component within the blockchain industry. This fundamental role is a significant driver of its appeal to institutional investors. Further applications for Chainlink ETFs are anticipated in the coming months.
A Closer Look at the Bitwise Chainlink ETF
Bitwise’s pursuit of a Chainlink ETF has heavily emphasized the network's strategic market positioning. In a recent interview, Ryan Rasmussen, Bitwise's Head of Research and Director of Asset Management, characterized Chainlink as essential infrastructure for predictive markets.
His comments highlighted Chainlink's indispensable function in the market, facilitating data access within Web3. The network has been actively forming key partnerships to ensure broad data accessibility.
One notable partnership was established with GMTrade, aiming to provide institutional-grade data for Real World Assets (RWAs), where a high degree of data integrity is paramount. This strategic move positions Chainlink to capitalize on the growth opportunities within the rapidly expanding RWA sector.
This strategic positioning may be the primary reason for the rising demand for exposure to Chainlink. The central question now is whether this development will position Chainlink's native coin, LINK, as one of the best-performing cryptocurrencies in 2026.
LINK Price Faces Challenges Exiting Lower Range
In the last 24 hours, the LINK price saw an increase, reaching as high as $14.20 after a rally of over 7%. Despite this surge, the cryptocurrency has remained confined within its short-term bottom range, a pattern observed over the past few months.
The Chainlink (LINK) price has been trading within this lower range since mid-November. However, its weekly chart suggests a gradual build-up of momentum that could favor a bullish recovery, following a significant downtrend that began in August of the previous year.
Notably, LINK's Relative Strength Index (RSI) has just crossed above its RSI-based Moving Average (MA) for the first time since mid-September. The last occurrence of such a crossover following a substantial downtrend was in June, after which the LINK price experienced a rally exceeding 100%.
These observations indicate that the Chainlink price may be on the verge of a recovery rally. However, achieving this would necessitate a robust wave of demand to drive a solid rebound.
Data on LINK spot flows reveals a cooling sell pressure. Nevertheless, inflows have remained weak, contributing to the absence of a significant recovery. Analysis of large order book data also indicates limited demand originating from the whale cohort.
In the derivatives market, open interest has seen a slight recovery from a four-week low of $507 million to $672 million at the time of this report. This suggests that derivatives investors are gradually regaining confidence.
The recent approval of the Chainlink ETF for listing on the NYSE could serve as the catalyst to reignite interest in LINK. If market conditions prove favorable, the cryptocurrency could be on the cusp of a significant recovery in the coming weeks.