- Chainlink (LINK) price falls 3.3% amid ETF delays and weak crypto sentiment.
- Bitwise’s Chainlink ETF appears on DTCC registry, signaling progress toward launch.
- Chainlink expands with Injective EVM integration for real-time data.
Bitwise’s proposed Chainlink ETF has been listed in the Depository Trust & Clearing Corporation (DTCC) registry, a step often regarded as a key milestone on the path to a potential launch.
The listing indicates that the fund’s debut may be approaching, marking another milestone in the growing intersection between traditional finance and blockchain assets.
Despite these developments, Chainlink (LINK) price eased slightly, weighed down by broader market weakness and lingering regulatory uncertainty.
Investors remain cautiously optimistic, viewing ETF progress as a potential long-term catalyst, although short-term sentiment remains muted.
Bitwise Chainlink ETF edging closer to launch
The Bitwise Chainlink ETF appeared on the DTCC eligibility list under the ticker CLNK, categorized as both “asset” and “pre-launch.”
DTCC ETF registry | Source: DTCC
Such a listing is generally one of the last operational steps before a new exchange-traded fund can begin trading on public markets.
The DTCC listing reflects downstream preparations for clearing and settlement, but it does not guarantee approval by the U.S. Securities and Exchange Commission (SEC).
The ETF is intended to track the price of Chainlink (LINK), the token that powers the decentralized oracle network connecting smart contracts to real-world data.
Bitwise initially filed its S-1 registration with the SEC in August and is still expected to file Form 8-A, the final key filing typically required before a security can be listed.
The DTCC listing suggests that this step could be imminent once the U.S. government fully resumes operations following an extended shutdown.
The recent 42-day U.S. government shutdown halted SEC activity, creating a backlog for dozens of crypto-based ETF applications, including Bitwise’s Chainlink product.
Optimism returned after the Senate passed a funding bill that could soon restore full SEC operations, helping clear the pending application backlog.
Historically, ETFs that achieve DTCC listing tend to secure approval once regulatory conditions normalize.
Analysts such as Bloomberg’s Eric Balchunas have observed that most funds that reach the DTCC stage ultimately debut, adding to confidence that a Chainlink ETF could soon join the growing roster of crypto investment vehicles.
Coinbase Custody Trust Company has been named custodian for the Bitwise Chainlink ETF, and the fund will permit in-kind creation and redemption, allowing authorized participants to exchange shares directly for LINK tokens.
Analysts view that feature as a potential liquidity driver that could deepen institutional exposure to the Chainlink network.
Meanwhile, other asset managers, including Grayscale, are also exploring Chainlink-based products, though some proposals include staking components that could complicate the approval process.
Chainlink (LINK) price outlook
Despite the ETF’s advances, Chainlink’s price fell roughly 3.3% over the past 24 hours, offsetting a seven-day gain of about 5.5%.
The pullback reflects a mix of market-wide weakness and profit-taking after weeks of ETF-driven speculation.
Open interest in LINK derivatives declined by 8% during the same period, suggesting traders are trimming exposure amid short-term uncertainty.
The broader cryptocurrency market also dipped about 1.7% over that timeframe, underscoring fragile sentiment even as structural developments progress.
From a technical perspective, LINK slipped below its 7-day simple moving average (SMA) at $15.61 and now faces resistance near the 30-day SMA at $16.93.
The relative strength index (RSI) weakened to around 43, signaling a loss of momentum.
Analysts warn that if the token closes below the $15.22 support level, it could test the October low near $13.87.
Chainlink (LINK) Price Chart | Source: CoinMarketCap
However, long-term fundamentals remain more constructive.
Chainlink continues to expand its role in decentralized finance infrastructure, most recently through the integration of Chainlink Data Streams and DataLink into the Injective EVM mainnet.
The integration, announced on November 11, enables low-latency, real-time price feeds that support next-generation DeFi applications.
This development reinforces Chainlink’s leadership in the oracle space and strengthens its value proposition beyond speculative trading.
At the time of writing, Chainlink (LINK) trades near $15.50 with a market capitalization above $10.8 billion.
While short-term price prospects for Chainlink remain mixed, institutional demand could provide significant tailwinds if the Chainlink ETF secures final approval.