A document circulated on social media on the 6th of January claiming the SEC approved Bitwise’s Chainlink ETF. The claim triggered market buzz, but the filing told a more nuanced story.
Still, the regulatory progress appeared to draw investor attention to Chainlink.
Regulatory filing, not approval
Bitwise’s Chainlink [LINK] ETF had not yet received formal SEC approval. Instead, the issuer filed an amended Form S-1 while completing Exchange Act registration steps.
Source: sec.gov
The ETF’s shares were approved for listing by NYSE Arca and registered under Form 8-A. Trading can begin only after the SEC declares the S-1 effective.
Even so, the filing details fueled speculation. Bitwise proposed a 0% management fee for the first three months on assets up to $500 million.
That update coincided with LINK’s 12% price surge, reflecting heightened market interest rather than regulatory clearance.
LINK records $2.24 million in ETF inflows
Institutions continued to reduce LINK coins from the supply. The LINK ETF secured $2.24 million in inflows, signaling robust institutional interest.
Source: SoSoValue
This pointed to growing confidence in Chainlink’s Web3 capabilities, driven by the increasing adoption of its decentralized oracle network.
The rise in capital inflows showed investors are positioning for Chainlink’s future growth in the DeFi space.
Chainlink: Developers and fees back the narrative
Chainlink maintained its position at the top of DeFi charts, ranking 1st in developer activity with 191 contributions.
Source: CryptoDep
This continued surge in developer engagement was a sign of the growing adoption of Chainlink’s technology in decentralized applications. Furthermore, its Cumulative Fees surpassed $6.9 million, reflecting strong market confidence in its long-term utility.
In fact, the ongoing growth in developer activity and fees provided a solid foundation for LINK’s continued momentum.
With Chainlink securing its position as a top performer in the DeFi sector, the coming months could bring even more adoption, making LINK a key player in the evolving blockchain landscape.
Resistance loomed on the chart
Looking at the chart, LINK was approaching a crucial resistance zone at $15-$16.
If this resistance could be broken, a surge toward $20 could follow, which would open the door for a multi-year resistance level at $27. Technical indicators, including the RSI and MACD, suggested that LINK could experience explosive growth if the resistance level is breached.
Source: TradingView
With critical resistance levels nearing, the next few days would be decisive for LINK. Will it maintain its upward trajectory or face a short-term pullback?
Final Thoughts
- Speculation around Bitwise’s ETF filing reframed sentiment around Chainlink without delivering final regulatory clearance.
- If momentum holds, traders may stay focused on structure, flows, and follow-through rather than headlines alone.
Source: https://ambcrypto.com/inside-bitwises-chainlink-etf-filing-and-links-12-jump/