Grayscale’s Chainlink ETF Lists on NYSE Arca, LINK Price Jumps

Core Insights - Chainlink's native token, LINK, experienced an 8% increase to $13.06 following the launch of a Grayscale ETF dedicated to the asset [1] - The ETF, GLNK, provides regulated access to Chainlink for investors through traditional brokerage accounts, marking the first U.S. ETF focused on tracking LINK [1][5] Company Overview - Chainlink is essential for enabling blockchain systems to interact with real-world data, integrating off-chain information into smart contracts for decentralized applications [2] - The network facilitates communication between separate blockchains, allowing data and value transfer across otherwise isolated networks, which is crucial for decentralized finance (DeFi), NFTs, and gaming [3] ETF Details - The GLNK ETF does not represent a direct investment in LINK; it holds LINK on behalf of shareholders and is not subject to the Investment Company Act of 1940, lacking some consumer protections [4] - The introduction of the ETF follows a significant decline in LINK's value, which is down 39% since the beginning of the year, reflecting broader trends in the cryptocurrency market [4]