Jakarta, Pintu News – Grayscale has just launched the first Chainlink ETF product in the market, which immediately attracted great attention from investors. On its first day of launch, the ETF raised over $41 million. This performance marks one of the most impressive debuts amidst unfavorable market conditions.
The Chainlink ETF, which trades under the ticker GLNK, has not only attracted attention due to the amount of incoming funds, but also due to its high trading volume. James Seyffart, ETF analyst from Bloomberg, said that this was an excellent opening for the new product.
According to him, the assets in this ETF have reached $64 million, an impressive figure considering the current market conditions. Seyffart adds that the ETF’s performance is all the more notable given the general decline in the crypto market in recent months. “Adding the fact that crypto hasn’t performed well in the last month or two makes it even more impressive,” he said.
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This Grayscale product is the first Chainlink-related product to be traded on a US exchange. It provides exposure to Chainlink through an ETP structure, rather than the traditional ETFs commonly regulated by Act 40. The move is part of Grayscale’s plan to ease access to assets important to the tokenization and data-oracle sectors.
Meanwhile, GLNK is now trading on NYSE Arca, and all eyes are on Bitwise’s Chainlink ETF, which listed on the DTCC under the ticker CLNK last month. The presence on the DTCC is an administrative step and does not mean it has been approved.
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GLNK directly holds Chainlink’s native token, allowing investors to access projects that are crucial in on-chain data infrastructure. However, the company has warned that this product carries higher risks and should not be considered a traditional ETF.
While investors await the launch of the Bitwise fund, experts wonder how high the token price can go after the launch of a new product. For example, the token price rose by more than 6% in the 24 hours since GLNK was launched. Its trading volume also increased by about 180% above average as market participants took positions around the new product.
With this successful launch, Grayscale has set a new standard in crypto ETF products. The strong initial performance of the Chainlink ETF shows that there is great interest from investors in innovative crypto assets, despite the risks involved.
The Chainlink ETF launched by Grayscale is the first Chainlink-related, exchange-traded product in the US. The product provides exposure to Chainlink through an ETP structure.
On its first day of launch, the Chainlink ETF managed to raise $64 million in assets.
Grayscale’s Chainlink ETF trades on NYSE Arca under the ticker GLNK.
Yes, there is another Chainlink ETF to be launched by Bitwise, which has been listed on DTCC under the ticker CLNK.
Chainlink’s token price rose by more than 6% in the 24 hours following the launch of the GLNK ETF, with trading volume increasing by around 180% above average.
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