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

Chainlink (LINK) has gained 8.9%, contributing positively to the CoinDesk 20 index, which reflects a general rise in cryptocurrency performance. This increase comes amid a backdrop of fluctuating market conditions, showcasing Chainlink's resilience in a competitive landscape.

Firelight has launched XRP staking on the Flare network, aiming to enhance risk management in decentralized finance (DeFi) and potentially increase institutional trust in XRP. This initiative is expected to expand the utility of XRP within the DeFi ecosystem.

Bitcoin has recently experienced a significant 30% decline, which Grayscale Research describes as a typical market fluctuation that does not indicate a long-term downturn. The firm maintains that this drop aligns with historical price patterns observed in the cryptocurrency's past.

AAVE's native token surged by 14% following the integration with Bybit and Mantle, which connects the decentralized finance (DeFi) lender to a user base of 70 million. This upward movement has allowed the token to break through a significant resistance level, with a target of reaching $190 in the near future.

Chainlink's price surged by 12.7% to $13.40 following Grayscale's launch of the first exchange-traded fund (ETF) tied to LINK, marking a significant milestone for the cryptocurrency. This development reflects growing investor interest and confidence in Chainlink's potential within the blockchain ecosystem.

Arca CIO Jeff Dorman has described the current cryptocurrency market decline as one of the strangest sell-offs ever, noting a disconnect between price movements and macroeconomic conditions. Despite traditional assets like equities and gold reaching all-time highs, cryptocurrencies continue to decline, raising questions about the underlying factors driving this trend.

Grayscale has indicated that Bitcoin's recent sell-off in 2025 appears to be a local bottom rather than a peak, suggesting a potential breakout to new highs in 2026, influenced by Federal Reserve policies and upcoming US cryptocurrency regulations.

Grayscale’s Chainlink Trust has successfully converted into the first U.S. Chainlink ETF, receiving approval to trade on NYSE Arca. This marks a significant milestone in the cryptocurrency sector, reflecting a shift in regulatory attitudes as the SEC streamlines the approval process for crypto-related funds.