Crypto Whales Ramp Up Chainlink Accumulation as Second LINK ETF Goes Live

Bitwise Asset Management launched the Bitwise Chainlink ETF on NYSE Arca on January 14, 2026. The fund, trading under the ticker CLNK, offers investors direct exposure to the Chainlink (LINK) token. This move follows the December 2025 launch of Grayscale's Chainlink Trust ETF (GLNK), making CLNK the second U.S. spot ETF for the altcoin according to Decrypt.

The launch of CLNK has coincided with a monthly high for the LINK token. As of January 14, LINK was trading at $14.25, up nearly 5% in a single day. The price increase aligns with broader market trends and growing institutional interest in blockchain infrastructure.

Large investors, including crypto whales, have been accumulating LINK ahead of the ETF's debut. On-chain data shows significant movements from whale wallets, with multiple withdrawals from major exchanges. This activity suggests long-term positioning rather than short-term speculative trading.

Why Did This Happen?

The launch of the Bitwise Chainlink ETF reflects the increasing institutional recognition of blockchain infrastructure. Chainlink's role as a decentralized oracle network—connecting smart contracts to real-world data—has made it a foundational component for decentralized finance (DeFi) and enterprise blockchain applications according to The Block.

Bitwise Chief Investment Officer Matt Hougan emphasized Chainlink's importance in enabling blockchain adoption. "Chainlink provides the essential oracle infrastructure that bridges the gap, powering the risk management and financial decision-making necessary for mainstream adoption," he stated as reported by Decrypt.

The timing of the ETF's launch also aligns with a broader shift in regulatory clarity. The Securities and Exchange Commission (SEC) has recently moved to approve listing standards for digital asset ETFs, facilitating faster market entry.

How Did Markets React?

While institutional inflows and whale accumulation are positive, the broader market remains volatile. Despite the launch of CLNK, the LINK token has seen a 1.2% decline in 24-hour trading. This is consistent with broader crypto market pressures and a lack of major macroeconomic catalysts.

The Bitwise Chainlink ETF opened with $2.59 million in net inflows, bringing total LINK ETF assets to approximately $95.87 million. This figure is approaching $100 million, a milestone often associated with increased institutional confidence.

Grayscale's GLNK, which launched in December, started with $37.05 million in inflows. While CLNK's initial volume was smaller, the competitive pricing and fee structure could attract additional capital in the coming months.

What Are Analysts Watching Next?

Crypto analysts are closely watching the performance of CLNK against GLNK. Both funds offer similar exposure but differ in fee structures and promotional periods. CLNK charges 0.34% after a fee waiver for the first $500 million in assets, while GLNK charges 0.35% according to Decrypt.

Market observers are also tracking whale activity for further signals. Nansen data indicates whale wallet balances increased by 1.37% in the past week, while exchange-held balances fell by 1%. This suggests a shift toward long-term holding.

The broader implications for Chainlink's market cap and adoption remain under scrutiny. With over 1,600 projects using its oracle technology, Chainlink's role in DeFi and cross-chain applications could continue to drive demand.

As the ETF landscape for digital assets expands, the success of CLNK will also depend on broader market sentiment and regulatory developments. The current fee waivers and competitive positioning are designed to attract early adopters and institutional investors.

In the short term, market participants are likely to focus on the token's performance relative to Bitcoin and other major altcoins. If the broader market stabilizes, LINK could benefit from increased exposure via ETFs and continued whale accumulation according to Yahoo Finance.