Chainlink (LINK) price bounced 5% from an intraday low of $22.94 on Tuesday, August 26, thanks to the Chainlink ETF filing. The large-cap altcoin, with a fully diluted valuation of about $23 billion, traded at about $23.96, down 1.9% during the past 24 hours.
LINK Price Gains On Chainlink ETF Application
TradingView data shows that the LINK price has rebounded following asset manager Bitwise’s Form S-1 filing with the United States Securities and Exchange Commission (SEC) to launch the Bitwise Chainlink ETF.
According to the S-1 registration statement, the Bitwise LINK ETF will collaborate with Coinbase Custody Trust Company to safely store the acquired tokens. This is bullish for the LINK price, given the amount of capital that could flow into its ecosystem through this fund.
If approved by the U.S. SEC, the Bitwise ETF will support both in-kind and cash-based creation and redemption. The fund will not engage in active trading, as the filing explicitly states provisions for LINK.
An exchange will now need to file a 19b-4 filing to list and trade shares of this fund to kickstart the review process for the Chainlink ETF. Once that happens, the U.S. SEC will go through its standard process, which includes an initial review, a potential publication comments stage, possible amendments, and a final decision.
First of Its Kind
In an X post, Bloomberg analyst Eric Balchunas noted that the Bitwise filing is the first of its kind for Chainlink, at least for a “true blue spot ETF,” as Tuttle filed for a 2x LINK ETF under the 40 Act.
Pretty sure it’s the first one for chainlink, at least for a true blue spot etf as Tuttle did for a 2x
chainlink under 40 act pic.twitter.com/jgmJH2Rw1D— Eric Balchunas (@EricBalchunas) August 26, 2025
The Tuttle Capital 2X Long Chainlink Daily Target ETF intends to deliver 200% of the daily LINK performance. According to the SEC filing, the Tuttle Capital 2X Long Chainlink Daily Target ETF intends to achieve the higher daily returns via swap agreements completed by call options in addition to direct LINK investments.
What This Means For Chainlink
The Bitwise Chainlink ETF matters a ton as it legitimizes organic demand for LINK by institutional investors. Furthermore, the fund will open up LINK for pension funds and hedge funds if approved by the U.S. SEC. This could lead to higher prices for the altcoin as demand increases.
Notably, the Chainlink team is also contributing to the demand for the LINK token through its creation of a reserve. As CoinGape reported, the Chainlink reserve just topped 150,770 LINK tokens.
Meanwhile, the Bitwise Chainlink ETF application will also boost the Chainlink network as a critical infrastructure for the wider DeFi ecosystem. Already, the Chainlink network has inked dozens of strategic partnerships in the DeFi ecosystem to provide secure and stable price oracles.
For instance, SBI Group, a top-tier financial institution in Japan, announced a strategic partnership with Chainlink earlier this week to facilitate its DeFi ventures. Through the partnership, Chainlink’s Cross-Chain Interoperability Protocol (CCIP) will enable SBI to venture into cross-chain tokenized real-world assets (RWA).
Coingape Staff
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Source: https://coingape.com/link-rebounds-as-bitwise-files-for-first-spot-chainlink-etf/