- The Catalyst: Grayscale is converting its Chainlink Trust into the market’s first spot ETF this week.
- The Divergence: LINK price dipped 7% to $12.11, but trading volume surged 95% to $556M.
- The Stakes: The “First-Mover” status aims to replicate the liquidity dominance seen in XRP ETFs.
Grayscale Investments will debut the first-ever spot Chainlink ETF this week, converting its existing Trust product into a public trading vehicle. Nate Geraci, President of The ETF Store, confirmed the timeline Monday, signaling a major institutional on-ramp for the oracle network despite broader crypto market weakness.
Geraci explained that Grayscale is preparing to convert its existing Chainlink Trust into a publicly traded ETF, giving investors an easier and regulated option to gain exposure to LINK.
LINK Price Drops but Trading Activity Surges
Even with the ETF excitement, LINK’s price has not escaped market pressure. The token is trading near $12.11, down 7.15% in the last 24 hours. Its total market cap has slipped to $8.44 billion, but activity remains intense, with daily trading volume rising almost 95% to reach $556.7 million.
Related: CoinShares ETF Withdrawal Adds Pressure to XRP Market
This sharp increase in volume shows strong participation from both sellers reacting to market weakness and traders positioning ahead of the upcoming ETF launch.
Can Bulls Defend $12?
The latest drop pushed the token directly into an important range, creating a situation where the next move becomes crucial. A firm hold above $12 could stabilize the trend, while a clear fall below this level may lead to deeper downside and a possible retest of earlier lows.
Analysts also pointed to the area around $12.81 as an early resistance level that needs to be reclaimed before confidence returns. At the moment, there is no confirmed reversal, and the price could still drift slightly lower.
Can LINK Benefit from First-Mover Advantage?
One of the biggest questions surrounding the upcoming Chainlink ETF is whether LINK can gain the same kind of first-mover advantage that Canary’s XRPC ETF achieved in the XRP space. Canary recently announced that its XRPC ETF has grown larger than all other spot XRP ETFs combined, calling it a clear sign of where investor demand is heading.
According to Canary’s statement, “What we’re seeing with XRPC is more than early adoption, it’s validation of where investor demand is heading.”
If Chainlink becomes the first available spot LINK ETF, it could benefit from similar early momentum, capturing investor attention before any competing products enter the market. In the ETF industry, being first often translates into stronger liquidity, higher long-term inflows, and brand dominance.
Related: Key Token Unlocks To Watch For In December, List Unveiled
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
