LINK token sees relief as Bitwise files for Chainlink ETF

Bitwise filed a new preliminary prospectus for a Chainlink (LINK) spot ETF, expanding the selection of ￰0￱ filing stalled the correction of LINK as all crypto assets deflated in the past ￰1￱ Investment Advisers filed a preliminary S-1 prospectus for a Chainlink ( LINK ) ETF, expanding the selection of altcoins in the process of ￰2￱ latest filing arrives at a time when the US Securities and Exchange Commission is taking its time to approve existing proposals. However, this does not stop funds from expanding the selection of ￰3￱ with other ETFs, the Chainlink product will use Coinbase Custody to store the tokens and will be cash-settled. However, in the event of a liquidation, the Trust may compensate buyers in cash or in ￰4￱ far, in-kind settlement that transfers crypto is not practiced by ETFs, where investors prefer not to handle the issues of self-custody or keeping track of ￰5￱ Cryptopolitan previously reported , the SEC pushed the Wisdom Tree ETF to October.

Recently, LINK was also represented in Canary Capital’s “ Made in USA ” crypto selection, with a new multi-asset ETF ￰6￱ is among the top 5 “Made in USA” assets by market ￰7￱ the news of the ETF, LINK traded at $23.54, stemming its recent ￰8￱ remains a leading token connected to the RWA tokenization ￰9￱ only live mainstream product for LINK is Grayscale’s Chainlink ￰10￱ Trust carries over $29M in value, with 0.89 LINK per ￰11￱ Chainlink Trust has shown relatively low volumes and has often traded at significant premiums and discounts in relation to the market value of LINK. However, a far-reaching ETF may be more liquid and track the token’s value more ￰12￱ activity and accumulation accelerate In the past month, LINK’s daily active addresses have increased to a higher range in ￰13￱ this, LINK reaches around 10K daily active addresses at most, as it is not used by retail wallets.

Instead, Chainlink is highly active in supplying oracle data for ￰14￱ retains a peak share of oracle data, securing over $59.56B in ￰15￱ oracle secures over 61% of distributed apps, with a total of 458 protocols ￰16￱ is seen as a valuable asset to stake and secure oracle services. Currently, the supply of LINK on exchanges is close to its lower range, with mostly outflows since the summer of ￰17￱ exchange reserves are mostly trending downward, though with regular whale inflows during periods of market turbulence. |