Grayscale has confirmed that its new Chainlink product, the GLINK spot ETF, is scheduled for an imminent listing on NYSE Arca. This announcement was made through the firm's official communication channels. Grayscale indicated that the ETF will commence trading once all final operational procedures are concluded and comprehensive system checks have been successfully completed.
The introduction of the GLINK ETF aligns with Grayscale's ongoing strategy to broaden its altcoin ETF offerings, following the recent launches of GDOG and GXRP. While several other non-BTC ETFs have entered the market under conditions of soft liquidity, Chainlink is noted for its unique market dynamics. These include a decreasing exchange supply and consistent accumulation by long-term holders. Data from various analytics platforms reveals that LINK's exchange balance has reached its lowest point since 2020. This trend has historically been associated with tighter liquidity during periods of increased demand and heightened institutional interest.
Grayscale has stated that a separate update will be provided once trading activity officially begins. Analysts are expected to closely observe the initial trading volume and fund flows to assess GLINK's potential impact on the current market sentiment trend.