Grayscale’s new Chainlink ETF, GLNK, has launched with a strong start, attracting over $41 million in investor investments despite the current crypto market downturn. The product debuted on NYSE Arca and saw strong trading volumes and price increases.
The launch provides investors direct exposure to the Chainlink token through an exchange-traded product (ETP) structure. This innovation offers a new way to engage with data-oracle technologies, according to analysts.
Despite market weakness, GLNK garnered significant investor interest with over $41 million in initial inflows on its first day of trading. The ETF’s success contrasts with other recent crypto ETFs that have faced lower investor reception.
The product highlights the growing demand for token-based ETPs and their potential to revolutionize traditional investment approaches. Market analysts anticipate GLNK becoming a standard for future crypto ETFs as it positions itself as a key player in on-chain data infrastructure.