- GLNK drew $41M in inflows and $13M in day-one volume, outperforming its activity when previously traded as a trust.
- The ETF reached about $64M in assets on launch day, showing strong demand despite recent crypto market softness.
- GLNK offers LINK exposure with higher regulatory risk, competing with Bitwise’s CLNK amid rising interest in oracle infrastructure.
Grayscale’s new Chainlink ETF had a strong market response on its first trading day on NYSE Arca, according to Bloomberg analysts. The product launched yesterday and saw more than $41 million in inflows as investors moved into the fund. Analysts Eric Balchunas and James Seyffart outlined the early activity and commented on the unusually high volume.
Analysts Highlight Early Volume and Asset Growth
Balchunas said the ETF generated about $13 million in day-one trading volume and appeared set to match that figure today. He said the activity exceeded what the asset recorded when it traded as a trust. Seyffart added that the fund reached roughly $64 million in assets on launch day. He described the opening performance as strong for a new listing.
He also noted that broader market weakness made the early flows more notable. He said crypto markets had struggled in recent weeks, which made the ETF’s early interest stand out. This line of analysis leads into the structure of the product itself.
GLNK Offers Direct LINK Exposure
The fund trades under the ticker GLNK and holds Chainlink’s native token. Grayscale said the structure is an exchange-traded product rather than a vehicle under the Investment Company Act of 1940.
That distinction introduces higher regulatory and market risk. The firm also said the product does not represent direct token ownership. The ETF’s arrival also drew comparisons to another Chainlink product.
Bitwise listed its own vehicle, CLNK, on the DTCC last month. Seyffart noted that the DTCC appearance serves as an administrative step rather than an approval. These details shift attention toward GLNK’s development history.
Product Development and Sector Context
Grayscale created GLNK as a private placement in 2021. It later moved to OTC trading before transitioning to an exchange listing. The company has emphasized Chainlink’s role in oracle infrastructure used for tokenization and cross-chain data. Balchunas said recent crypto ETF launches performed well, adding that DOGE was the only product with weaker activity so far.
