Chainlink plays a critical role in connecting blockchain systems to real-world information.
Chainlink News
Chainlink rose 8% Tuesday to $13.06 as Grayscale Investments debuted the first U.S. exchange-traded fund tracking Chainlink, offering investors regulated access to the oracle network through traditional brokerage accounts.
The ETF trades under ticker GLNK on NYSE Arca and converts Grayscale's Chainlink Trust, a private placement fund with over $17 million in assets under management. Inkoo Kang, senior vice president of ETFs at Grayscale, stated Chainlink's decentralized oracle network sets the market standard for verifiable data and cross-chain connectivity underpinning tokenization and DeFi across public blockchains.
Chainlink plays a critical role in connecting blockchain systems to real-world information. The network feeds off-chain data, including weather updates, price information, and election results, into smart contracts, allowing decentralized applications to respond to real-life events.
The protocol also enables separate blockchains to communicate, helping data and value move between networks that otherwise cannot interact. This functionality has made Chainlink a staple in decentralized finance, NFTs, gaming, and other on-chain markets, securing tens of billions of dollars in value, according to Grayscale's announcement.
GLNK holds Chainlink on behalf of shareholders but does not fall under the Investment Company Act of 1940, meaning it lacks certain consumer protections that govern traditional ETFs and mutual funds. The structure provides indirect exposure to the token without requiring direct custody of digital assets.
Chainlink has declined 39% since January, reflecting broader weakness across the cryptocurrency market. The token remains among the top 25 largest cryptocurrencies by market capitalization despite significant year-to-date losses.
Grayscale introduced the fund as a private placement in 2021 and moved it to OTC Markets in 2022. The NYSE Arca listing brings the product into a more accessible venue for institutional and retail investors seeking regulated crypto exposure.
The firm has debuted several crypto ETFs in recent weeks, including products focused on XRP, Dogecoin and Solana. Grayscale is also seeking Securities and Exchange Commission approval to launch what would be the first-ever Zcash ETF, further expanding its suite of digital asset investment products for traditional finance channels.
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