LINK, the native token of Chainlink, rose 8% to $13.06 after Grayscale’s Chainlink ETF—ticker GLNK—made its trading debut on NYSE Arca. This marks the first U.S. exchange-traded fund focused solely on LINK, providing regulated exposure to the token through traditional brokerage platforms.
Chainlink is a crucial decentralized oracle network that connects blockchains with real-world data such as market prices, weather reports, and election results, helping smart contracts operate based on live, external information.
Beyond oracles, Chainlink also enables seamless communication between different blockchains, supporting data and value transfer across otherwise isolated networks. This has made it a foundational layer for DeFi, NFTs, gaming, and other onchain ecosystems, with tens of billions of dollars secured.
Grayscale clarified that GLNK holds LINK for its shareholders but does not qualify under the Investment Company Act of 1940, meaning it lacks some protections offered to traditional ETFs. The listing follows GLNK’s earlier phases as a private placement in 2021 and an OTC product in 2022.
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