- Chainlink (LINK) price falls 3.3% amid ETF delays and weak crypto sentiment.
- Bitwise’s Chainlink ETF appears on DTCC, indicating progress toward a 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 viewed as a meaningful move toward an eventual launch.
The DTCC listing suggests the fund’s debut could be approaching, marking another milestone in the growing overlap between traditional finance and blockchain assets.
Despite this progress, Chainlink (LINK) price has slipped, weighed down by broader market weakness and ongoing regulatory uncertainty.
Investors remain cautiously optimistic, treating ETF progress as a potential long-term catalyst even as short-term sentiment stays subdued.
Bitwise Chainlink ETF moves closer to launch
Bitwise’s Chainlink ETF appeared on the DTCC eligibility list under the ticker CLNK, placed in both “active” and “pre-launch” categories.
DTCC ETF registry | Source: DTCC
Such a listing is typically one of the final steps before a new exchange-traded fund can begin official trading. It reflects back-end preparations for clearing and settlement, though it does not guarantee that the U.S. Securities and Exchange Commission (SEC) will approve the fund.
The ETF is designed to track the price of Chainlink (LINK), the token that powers the decentralized oracle network which connects smart contracts to real-world data.
Bitwise first filed an S-1 with the SEC in August and still expects to submit Form 8-A, the final key filing required before a security can be listed on an exchange.
The DTCC listing indicates the 8-A and related steps could be imminent once U.S. government operations resume after the extended shutdown.
The 42-day U.S. government shutdown halted many SEC activities, creating a backlog for dozens of crypto-based ETF applications, including Bitwise’s Chainlink product.
Optimism returned after the Senate approved a funding bill that could soon restore full SEC operations and help clear the backlog of pending filings.
Historically, ETFs that reach DTCC listing tend to move toward approval once regulatory conditions normalize. Analysts such as Eric Balchunas of Bloomberg have observed that most funds that get to the DTCC stage eventually debut, adding confidence that a Chainlink ETF may join the expanding roster of crypto investment vehicles.
Coinbase Custody Trust Company has been named custodian for the Bitwise Chainlink ETF, which will allow in-kind creation and redemption. This means investors could exchange shares directly for LINK tokens, a feature analysts view as a potential liquidity boost that may deepen institutional exposure to Chainlink.
Other asset managers, including Grayscale, are also pursuing Chainlink-based products, though some proposals include staking components that could complicate SEC approval.
Chainlink (LINK) price outlook
Despite promising ETF developments, Chainlink’s price fell roughly 3.3% over the past 24 hours, diverging from a roughly 5.5% gain over seven days. The pullback reflects a mix of market-wide weakness and profit-taking after weeks of ETF-driven speculation.
Open interest in LINK derivatives dropped about 8%, suggesting traders are trimming exposure amid short-term uncertainty. The broader crypto market also declined around 1.7% over the same period, indicating fragile sentiment even as structural developments advance.
From a technical perspective, LINK slid below its seven-day simple moving average at $15.61 and now faces resistance near the 30-day SMA at $16.93. The relative strength index (RSI) weakened to approximately 43, signaling diminishing momentum.
Analysts warn that a daily close below $15.22 could lead to a retest of October’s low near $13.87.
Chainlink (LINK) price chart | Source: CoinMarketCap
Nevertheless, long-term fundamentals appear more resilient. Chainlink continues to broaden its role within decentralized finance infrastructure, most recently through the integration of Chainlink Data Streams and DataLink into Injective’s Mainnet EVM.
Announced on November 11, the integration enables real-time, low-latency price feeds that support next-generation DeFi applications. This strengthens Chainlink’s position in the oracle sector and highlights its value beyond speculative trading.
At the time of writing, Chainlink (LINK) trades around $15.50 with a market capitalization above $10.8 billion. While short-term price prospects are mixed, institutional demand could provide a meaningful tailwind if a Chainlink ETF secures regulatory approval.