Chainlink (LINK) experienced significant bullish momentum, reaching its highest price point for the month following a major announcement concerning institutional adoption. Crypto asset manager Bitwise officially launched the Bitwise Chainlink ETF, listing the product on the New York Stock Exchange (NYSE).
The market reacted swiftly to the news of the regulated ETF product. Trading volume for LINK soared by over 45% in the 24 hours subsequent to the launch. The token’s price successfully breached key resistance levels, stabilizing above the crucial $18 mark, marking a monthly high and attracting renewed interest from both retail and institutional investors.
The launch is seen as a pivotal moment for Chainlink, which serves as a critical decentralized oracle network providing secure, reliable data to smart contracts across various blockchains. Listing a dedicated Chainlink ETF on a major traditional exchange like the NYSE opens the door for conventional investors and regulated funds to gain exposure to the LINK ecosystem without directly managing underlying digital assets. This move validates Chainlink’s status as a foundational piece of decentralized finance (DeFi) infrastructure.
Analysts suggest this institutional validation solidifies Chainlink’s position in the evolving digital asset landscape. The successful ETF launch and corresponding price movement indicate increasing maturity and acceptance of infrastructure-focused crypto assets within traditional financial markets, signaling positive long-term growth prospects for the asset.
Source: LINK Hits Monthly High as Bitwise Launches Chainlink ETF on NYSE
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