Bitwise Chainlink ETF draws $1.5M as LINK rises 13.48% weekly

The Bitwise Chainlink ETF drew $1.5 million in weekly inflows as LINK rose 13.48 percent to $8.85, the top gainer among the 15 largest cryptos.

"Investors are recognizing Chainlink's role in bridging traditional markets and crypto," Bitwise CEO Hunter Horsley said, noting the fund recorded inflows on multiple days last week while the broader market declined.

CLNK's assets under management reached about $25 million since its January debut, even as the fund remains down nearly 48 percent from launch. LINK's trading volume jumped 120 percent to $492 million on Aug. 15, with the MVRV ratio printing a golden cross against its 200-day average, a signal that preceded major rallies historically, according to analyst Ali Charts.

LINK faces resistance at $10; a close above that level could extend gains, while a rejection may pull the token toward $7.88 support. The inflows come as Bitcoin ETFs shed 917 BTC worth $57.63 million, pointing to capital rotation into altcoin products.

Chainlink, an Ethereum-based oracle network that feeds real-world data to smart contracts, has outperformed every major crypto asset this week. The token gained nearly 8 percent in the prior week before accelerating to 13.48 percent this week, reaching its highest level since May. Whale transactions above $1 million have risen alongside the price move.

The Bitwise product, trading under the ticker CLNK, offers regulated exposure to Chainlink through traditional brokerage accounts. Horsley said the sustained participation was encouraging as investors expand their understanding of the protocol's utility in connecting on-chain applications with external data feeds.

The institutional flow picture contrasts sharply with Bitcoin ETFs, where BlackRock and Fidelity products contributed to outflows of 917 BTC worth $57.63 million. Solana ETFs recorded $10.26 million in inflows during the same week, the highest since May, pointing to selective institutional appetite for altcoin exposure.

The broader market remains subdued, with Bitcoin trading near $62,900 and total crypto market cap at $2.16 trillion. The Fear and Greed Index sits at 34, in "Fear" territory, yet LINK has defied the trend. The RSI reading of 70 suggests momentum favors bulls, though it also flags the token as technically overbought in the short term.

If LINK closes above $10, the next resistance zone sits near $11, a level that would represent a roughly 24 percent gain from current prices. A failure to hold current levels could see the token retest $7.88 support, where buyers previously stepped in.

This article is for informational purposes only and does not constitute investment advice.