Grayscale’s Chainlink ETF has seen zero outflows since its debut, amassing $54.69 million in net inflows. Whale accumulation has also remained consistently strong.
Despite these bullish indicators, LINK’s price continues to decline. Analysts now point to several upcoming catalysts that could support the altcoin’s growth.
Chainlink ETF Garners Sustained Institutional Attention
BeInCrypto previously reported that the first-ever spot Chainlink ETF launched on December 2 on NYSE Arca. On its debut day, the fund recorded $37.05 million in inflows. Since then, it has not experienced a single outflow, although it recorded zero netflows on three separate trading days.
According to data from SoSoValue, the ETF saw $2.02 million in net inflows on December 15. Notably, the fund’s cumulative inflows have now surpassed those of other altcoin ETFs, including Dogecoin and Litecoin products, despite those ETFs launching significantly earlier.
Meanwhile, demand for Bitcoin and Ethereum ETFs has weakened. On December 15, Bitcoin ETFs recorded $357.69 million in net outflows, while Ethereum ETFs saw $224.78 million exit the market. Against this backdrop, the Chainlink ETF continues to maintain a neutral to positive trajectory.
In addition to ETF flows, on-chain data shows notable accumulation among Chainlink’s largest holders. Analytics platform Santiment reported that the top 100 wallets have acquired 20.46 million LINK since November 1, worth approximately $263 million. This suggests strong conviction from investors.
