- The Bitwise Chainlink ETF gives investors direct LINK exposure through traditional brokers.
- LINK is showing strong accumulation signals following the ETF approval.
- XRP remains structurally intact but faces short-term pressure near $2.00 support.
The U.S. crypto ETF market is expanding again. NYSE Arca has approved the Bitwise Chainlink ETF for listing, with trading set to begin tomorrow under the ticker CLNK. The move gives investors regulated exposure to Chainlink (LINK) through a traditional brokerage account, while the broader crypto market remains steady — even as Ripple’s XRP shows signs of cooling after a recent breakout attempt.
Together, the two developments highlight a market that is selectively rewarding clarity and structure, while punishing short-term overextension.
Bitwise Chainlink ETF Opens the Door to Direct LINK Exposure
The newly approved Bitwise Chainlink ETF will directly hold LINK tokens, allowing investors to gain exposure without managing wallets, private keys, or on-chain custody. The fund has been registered under the Exchange Act of 1934, clearing regulatory hurdles ahead of its launch on NYSE Arca.
Bitwise has set the management fee at 0.34%, with a notable incentive for early investors. The sponsor fee will be fully waived for the first three months on up to $500 million in assets, reducing initial costs as the fund builds liquidity.
While the ETF will not stake LINK at launch, Bitwise has signaled plans to seek approval for staking in the future. If approved, staking could allow the fund to accumulate additional LINK over time, potentially improving long-term returns.
LINK Price Shows Accumulation as Volume Surges
Market reaction to the ETF approval was swift. Chainlink’s trading volume jumped more than 100% over the past 24 hours, while price climbed roughly 5% to around $13.90.
From a technical perspective, LINK remains within a long-term rising channel that has been intact since 2023. Analysts note that the token is still trading near the lower boundary of that channel — an area historically associated with accumulation. Previous consolidations of similar size have preceded sharp upside moves, reinforcing the view that longer-term buyers tend to step in during extended sideways periods.
If LINK transitions fully from accumulation into expansion, some projections place the upper channel target near $46, though a confirmed breakout would be required to support such a move.
XRP Slips Toward $2.00 as Momentum Fades
While LINK benefits from fresh institutional access, XRP is losing steam. After briefly pushing into resistance near $2.40, XRP failed to hold above key moving averages and slipped below the 100-day level near $2.20.
The token is now drifting toward the $2.00 support zone, a critical area that aligns with the midpoint of its recent uptrend. Momentum indicators are softening, with RSI approaching neutral territory. A sustained break below $2.00 could open the door to a retest of $1.80.
Still, analysts stress that the broader structure remains intact. XRP continues to trade above major EMA clusters, and a reclaim of the $2.30–$2.40 zone could quickly shift sentiment back in favor of bulls, with higher targets coming back into focus.
Also Read: $5.48M in LINK Scooped Up — Are Chainlink Whales Betting on a Rebound?
The approval of the Bitwise Chainlink ETF underscores growing institutional comfort with select crypto assets, especially those tied to core infrastructure. LINK appears to be benefiting from that shift, both in volume and market structure. XRP, meanwhile, is consolidating after a strong run, with traders watching closely to see whether support holds or momentum fades further. For now, the market is steady — but increasingly selective.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. CoinBrief.io is not responsible for any financial losses.
