Bitwise launched its LINK ETF with $2.59 million in inflows on opening day, lifting the fund’s net assets to $5.18 million and trading volume to $3.24 million. The ETF carries a 0.34% management fee, though Bitwise has waived this fee for the first three months on up to $500 million in assets. The debut marks the second US spot ETF directly tied to LINK, pushing total LINK ETF net assets toward the $100 million milestone. Overall, the launch underscores growing institutional interest in Chainlink’s oracle network and its role in on-chain data feeds.
On-chain data shows whales increasing LINK accumulation as the ETF goes live. One wallet, 0x10D9, withdrew 139,950 LINK from Binance, valued at about $1.96 million, after a prior withdrawal of 202,607 LINK worth around $2.7 million. Another whale wallet, 0xb59, withdrew 207,328 LINK worth approximately $2.78 million on January 12. The same wallets have led to a total holding of 342,557 LINK worth about $4.81 million accumulated over the past two days. The pattern suggests a move toward long-term accumulation as large holders increasingly store LINK in self-custody.
Beyond these movements, data show that large holders are moving LINK off exchanges and into self-custody, a pattern associated with longer-term accumulation. Over the past week, whale balances rose while exchange-held LINK declined, signaling a shift in custody away from venues likely used for trading. LINK has fallen about 1.2% over the past 24 hours, trading around $13.80 at press time.
Total LINK ETF net assets have risen to roughly $95.87 million, bringing the sector closer to the $100 million milestone. With Bitwise’s CLNK and the Grayscale LINK Trust ETF (GLNK) in the mix, institutional demand appears to be broadening for LINK exposure.
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