Whales increase Chainlink holdings as Bitwise launches LINK ETF

Beincrypto reported that crypto whales have increased exposure to Chainlink (LINK) as Bitwise’s spot Chainlink ETF went live this week.

Bitwise’s CLNK began trading on NYSE Arca on January 14 with a 0.34% management fee that Bitwise is waiving for the first three months on up to $500 million in assets. SoSoValue logged $2.59 million in net inflows on opening day, net assets of $5.18 million and trading volume of $3.24 million; Grayscale’s GLNK drew $37.05 million on its first day, and total LINK ETF net assets now total $95.87 million. On-chain data show large whale moves: wallet 0x10D9 withdrew 139,950 LINK (about $1.96 million) after earlier withdrawing 202,607 LINK (about $2.7 million), and Onchain Lens posted that the whale holds 3,42,557 LINK worth $4.81 million accumulated in the past 2 days. Another wallet, 0xb59, withdrew 207,328 LINK (about $2.78 million) on January 12. Nansen data indicated whale balances rose 1.37% over the past week while exchange-held LINK fell 1%.

Despite the ETF inflows and large-holder accumulation, LINK dropped 1.2% over the past day and traded at $13.8 at the time of reporting.

Key Topics

Crypto, Chainlink, Bitwise, Clnk, Glnk, Whale Wallets