Bitwise Wins NYSE Arca Approval for Chainlink ETF, LINK Price Eyes $46

Bitwise’s spot Chainlink ETF is set to trade as CLNK on NYSE Arca after exchange approval. The listing arrives as LINK extends a weekly climb ahead of the expected debut.

Market data also shows higher derivatives positioning, with open interest edging up during the latest session. At the same time, a weekly chart-based Chainlink price prediction points to $46 if the channel pattern holds.

NYSE Arca Approves Bitwise Chainlink ETF Listing Under CLNK

Bitwise filed a Form 8-A registration for its spot Chainlink ETF with the U.S. SEC on Jan. 5. The filing is part of the process used for listing securities on a national exchange. NYSE Arca has now approved the product to list under the ticker symbol CLNK. Bitwise manages about $15 billion in crypto assets, according to the report, as of January.

The trust is structured to give investors spot exposure to LINK through an exchange-listed fund. Share creations and redemptions are expected to follow standard ETF mechanics once trading begins.

The issuer said the launch is expected this week, pending final operational steps and coordination with market participants.

Bitwise Outlines Fund Structure

Bitwise set a 0.34% management fee for the Chainlink ETF and disclosed an introductory waiver. The issuer waived the entire management fee on the first $500 million of assets under management.

It also extended the waiver period from one month to three months, as per the latest update. After the waiver ends, the stated fee schedule applies under the prospectus terms.

Bitwise also disclosed an initial seed order designed to start secondary market liquidity. The filing said Bitwise Investment Manager LLC would purchase the initial baskets for $2.5 million. That order equals 100,000 shares priced at $25 per share for the seed transaction.

Coinbase Custody is listed as the digital asset custodian, while BNY Mellon serves as the cash custodian.

The registration statement references LINK staking as a secondary investment objective for the trust. Bitwise named Attestant Ltd as its preferred staking agent, should staking be enabled later.

Flows into other Chainlink-linked exchange products were also reported alongside Bitwise’s listing news. Grayscale’s Chainlink ETF, trading as GLNK, recorded $2.24 million in net inflows on Monday.

Chainlink Price Prediction Based on Weekly Channel

Chainlink price rose more than 2% in the past 24 hours, extending its weekly gain to above 11%. The token is currently traded near $13.93, with a 24-hour high of $14. Trading volume rose nearly 45% over the last day, pointing to higher turnover after the update.

CoinGlass data also showed derivatives buying, with futures open interest near $665.46 million over the session.

A weekly chart shared by analyst Bitcoinsensus describes LINK price consolidating on a macro lower support trendline. The chart frames price inside a large parallel channel that has guided swings since 2023.

If LINK continues to respect the channel rhythm, the view targets a move toward $46. The same framework keeps prior swing zones near $23 and $31 as reference areas on the path.

On the same chart, earlier advances followed extended sideways phases near the channel base marked as accumulation. The next resistance references on the view sit around $23 and $31, which matched prior cycle peaks.

A return to those zones would fit the pattern before any move toward the $46 channel ceiling. A break below the rising support line would weaken the channel setup and delay the target.

Moreover, recent LINK news showed Chainlink breaking above its 21-day moving average for the first time since last summer. The move followed a drop toward October lows, as the price structure began to stabilize.

Data also showed approximately $8.54 million in LINK inflows, indicating selective demand as traders reassessed altcoins.