Chainlink ETF Launches This Week Amid 30% LINK Price Decline

Chainlink's [LINK](https://holder.io/coins/link/) market activity is poised for attention with the potential launch of a LINK exchange-traded fund (ETF). Grayscale, a leading asset manager, plans to convert its existing Chainlink private trust into a publicly traded ETF, which would enhance institutional access to LINK.

The proposed LINK ETF by Grayscale will be the first spot LINK ETF in the U.S. market.
This initiative follows other crypto ETFs like XRP and Solana.
Grayscale's Chainlink Trust was introduced in February 2021, currently valued at $15 per share with a 2.5% expense ratio and $17.2 million in assets under management.
Bitwise's Chainlink ETF also appeared on the DTCC website recently, suggesting rising institutional interest in LINK.

The LINK price has experienced significant volatility, dropping nearly 30% last month and declining another 7% today, now trading at $12.21. Trading volumes have surged 117% to $592 million.

Crypto analyst Ali Martinez warns of a potential further decline to $8 if current support levels fail.
Market analyst Aaryan suggests LINK could become bullish if it forms a strong buying pattern or sees substantial buying pressure.