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After a sharp drop over the weekend, Chainlink (LINK) price is rising again after Grayscale filed with the US Securities and Exchange Commission (SEC) to launch a spot Chainlink exchange-traded fund (ETF).

The Grayscale ETF filing signals growing institutional interest in the decentralised oracle project and comes as LINK consolidates within a long-term technical pattern that could soon resolve in an upward direction.

Grayscale’s aim for the Chainlink ETF

Grayscale’s filing seeks approval to convert its existing Chainlink Trust into a regulated spot ETF.

If approved, the fund will trade on NYSE Arca under the ticker GLNK, with Coinbase Custody as the official custodian.

Similar to the firm’s Bitcoin and Ethereum ETFs, the Chainlink ETF would process share creations and redemptions in cash. However, in-kind redemptions could be allowed in the future if regulators agree.

What makes this filing stand out is the inclusion of a potential staking feature.

Grayscale has signalled that the ETF could stake part of its LINK holdings, subject to regulatory and tax approval.

Rewards from staking would either be retained, sold, or distributed to shareholders.

The staking element highlights Chainlink’s unique position in the crypto market as a network that relies on incentives to secure decentralised data feeds.

The rising crypto ETF appetite

Grayscale’s Chainlink (LINK) application is part of a wider strategy to expand into altcoin ETFs. Beyond Bitcoin (BTC) and Ethereum (ETH), the firm has filed for products tied to Avalanche (AVAX), Dogecoin (DOGE), Litecoin (LTC), Solana (SOL), and XRP.

Competitors are also entering the race. Bitwise submitted its own Chainlink ETF application in August 2025, while VanEck, 21Shares, Franklin Templeton, and REX Shares are pursuing ETFs tied to other leading tokens.

This surge of filings coincides with a friendlier US regulatory climate.

The Trump administration has taken a more supportive stance on crypto compared to the Biden era, raising expectations that approvals for altcoin ETFs may soon extend beyond BTC and ETH.

The success of spot Bitcoin and Ethereum ETFs has strengthened the case for new products that give investors exposure to infrastructure assets like Chainlink.

Chainlink price reaction

The Chainlink ETF announcement lifted LINK’s market sentiment, with the token climbing above $23.00 and gaining more than 2% on the day.

LINK now carries a market capitalisation of around $15.6 billion, ranking it the 13th largest digital asset.

Daily trading volume remains strong at over $870 million, reflecting consistent liquidity.

Technically, LINK is trading within a multi-year symmetrical triangle.

(Click on image to enlarge)

Chainlink price chart| Source: TradingView on CoinMarketCap

Notably, a possible retest of the $16 support zone, a level that has attracted whale accumulation and could serve as the final base before a breakout.

On the upside, the $25–$27 range marks the first key resistance, followed by the $31 pivot, which has repeatedly capped rallies in the past.

A breakout above $31 would put LINK on course to retest its previous all-time high near $52.

The triangle pattern also implies a much larger move, with projections pointing to a possible $100 target in the longer term.

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