Core Insights - Chainlink is set to launch its first spot LINK exchange-traded fund (ETF) in the US, managed by Grayscale, which is expected to attract significant attention in the crypto market [1][2] - The LINK price has experienced a notable decline of 7% today, reflecting a broader correction in the cryptocurrency market [1][6] Group 1: ETF Launch - The upcoming Chainlink ETF will be the first of its kind in the US market, indicating a growing institutional interest in LINK [2][4] - Grayscale plans to convert its existing Chainlink private trust into a publicly traded ETF, which could enhance institutional access to LINK [3] - The Chainlink Trust (GLNK) was launched in February 2021 and currently has an expense ratio of 2.5% with over $17.2 million in assets under management [3] Group 2: Price Movement - LINK's price has dropped nearly 30% in November amid a general market correction, despite strong accumulation in October [5] - Following today's market crash, LINK is trading at $12.21, with trading volumes increasing by 117% to $592 million [6] - Analysts suggest that LINK may retest its recent breakdown zone, with a potential further decline to $8 if support is not reclaimed [6][7]