Chainlink ETF Hits DTCC Milestone Despite LINK Price Slump
Chainlink’s native token LINK fell over 7% in 24 hours, trading near $15.36 after an intraday low of $15.20. Trading volume dropped by 20%, and LINK now sits below its 50-day and 200-day moving averages, signaling weak momentum. Meanwhile, the Bitwise Chainlink ETF (ticker CLNK) was added to the DTCC eligibility list, a standard procedural step for clearing and settlement. However, this listing does not imply SEC approval, which remains pending amid the U.S. government shutdown. Futures open interest for LINK on major platforms like Binance and Bybit also declined, reflecting reduced short-term trader activity. While the DTCC milestone marks progress for the Bitwise Chainlink ETF, actual launch depends on final regulatory green light. If approved, the ETF could attract institutional capital and strengthen Chainlink’s market position. Until then, LINK price momentum is likely to stay subdued.
Neutral
The DTCC listing of the Bitwise Chainlink ETF is a procedural milestone but stops short of SEC approval. LINK’s 7% price drop and declining futures open interest indicate cautious trader sentiment. Similar ETF eligibility steps for other tokens, such as Ethereum futures products, have historically produced muted price reactions until formal regulatory sign-off. In the short term, uncertainty over SEC timelines keeps momentum subdued. Long term, approved ETFs tend to boost institutional inflows and token performance. These mixed factors support a neutral market impact.