The launch of Grayscale’s Chainlink ETF attracted $41 million in net inflows in a single day. Yet, despite these encouraging figures, experts do not describe it as a “blockbuster.” This raises questions about the gap between expectations and reality for crypto ETFs.
Key Figures and Context of the Chainlink ETF Launch
Grayscale made history in the crypto ETF space by converting its Chainlink Trust into a spot ETF, listed on the NYSE Arca under the ticker GLNK. On the first day alone, the fund recorded $41 million in net inflows, along with a trading volume of $13 million. At closing, assets under management reached $64 million, including an initial allocation of $18 million.
LINK’s price reacted with an increase of 7% to 9.8% over the week but remains down 39% year-over-year. This launch confirms institutional investors’ appetite for regulated crypto products, even in a bear market. It is part of a series of SEC approvals for crypto ETFs, following those for Bitcoin, Ethereum, Solana, and XRP.
A "Solid" Launch, But Not a "Blockbuster"
Analysts describe the launch as “solid,” but not a “blockbuster.” By comparison, the XRP ETF recorded $243 million in inflows on day one, while the Solana ETF only reached $8.2 million. The market is currently in a “risk-off” phase, limiting the impact of altcoin ETF launches.
Eric Balchunas on the Chainlink ETF launch: "Solid. Not a blockbuster. $41M in net inflows and $13M in trading volume on day one. Assets under management $64M (incl. $18M initial). Not bad for an altcoin ETF, but nowhere near the hype. Still, a win for Grayscale and Chainlink."
Chainlink, although infrastructural, remains a niche asset compared to Bitcoin or Ethereum. Its ETF attracts institutions but not yet the general public to make it a blockbuster. Despite the initial inflows, LINK’s price has not experienced a sustained rally due to a persistent downtrend and strong technical resistance.
The Emblematic Case of XRP: When an ETF Catalyzes Crypto Enthusiasm
The XRP ETF made a significant mark with $243 million in net inflows on its first day, a record for crypto ETFs in 2025. This success is attributed to several factors: XRP, being at the center of a historic lawsuit against the SEC, benefited from a rarity effect and a strong community. The launch also coincided with a period of renewed optimism for altcoins.
Unlike Chainlink, the XRP ETF generated a significant price increase in XRP, proving that some launches can catalyze market enthusiasm. For the GLNK ETF to become a true “blockbuster,” a combination of several factors would be needed:
- •A resurgence of confidence in altcoins;
- •Massive adoption of Chainlink in DeFi;
- •Continuous investment flows.
The launch of Grayscale’s Chainlink ETF is a relative success, but not the anticipated blockbuster. It confirms the growing interest in regulated crypto products while reminding that not all ETF launches are equal. Chainlink will have to prove its ability to attract sustainable flows to support a recovery in LINK’s price. The question remains: would you be willing to invest in the Link ETF?