Bitwise Chainlink ETF Listed on DTCC: What This Means for LINK?

Can SEC Approval of Bitwise Chainlink ETF Push LINK Price Higher Soon?

This week, the Bitwise Chainlink ETF under the ticker CLNK appeared on the DTCC eligibility list, and that got everyone talking. The DTCC - Depository Trust & Clearing Corporation - handles the clearing and settlement for U.S. securities, so a listing there often means a fund is preparing to go live.

But here's the catch: this listing doesn't mean SEC approval yet. It's just a procedural step that usually comes before a fund officially launches. Still, for Chainlink supporters, it's a sign that things are moving forward. 

Source: X (formerly Twitter)

A Quick Recap: How We Got Here

Bitwise, one of the largest crypto asset managers, filed for the Bitwise Chainlink ETF back in August 2025. 

Its objective is simple: to help investors get exposure to the altcoin through a regulated exchange-traded fund, instead of directly buying crypto.

The crypto investment product would be backed by actual LINK tokens and track prices using the CME CF Chainlink-Dollar Reference Rate to help keep everything transparent. Coinbase Custody Trust will manage the tokens in cold storage with insurance protection.

This isn't Bitwise's first big crypto ETF push. The company has been at the front of every major crypto products wave from Bitcoin to Ethereum and now Chainlink. So when the CLNK fund popped up on the DTCC list, many investors saw it as the next step toward mainstream adoption.

Why Chainlink Price Dropped Despite the News

A milestone like that would normally drive up the price of LINK. Instead, It has fallen about 7.5% in the last 24 hours to about $15.37.

Why the drop? Three main reasons:

ETF Hype Turned Into Uncertainty: Traders jumped in early, expecting instant SEC approval. When that didn't happen, short-term investors cashed out.

Weak Technicals: LINK slid beneath its 30-day average and key support lines. Technical charts indicate more sellers than buyers currently.

Source: CMC

Looking at the Chainlink price prediction based on current technicals, LINK could stay weak near $15.20 support. A rebound above $15.76 may push it toward $17, while a breakdown risks a fall to around $13.80.

Analysts Say: Progress, But Not a Green Light Yet

Still, market experts such as Bloomberg's Eric Balchunas quickly reminded everyone that a DTCC listing is but a logistical step, not an indication of approval or impending trading for the ETF.

It's a milestone, nonetheless. Once the ongoing U.S. government shutdown ends, analysts expect the SEC to start clearing its backlog of ETF filings, including the Bitwise Chainlink ETF and Grayscale's proposed GLINK Trust.

If approvals start coming in, it may open the door for massive institutional exposure to this cryptocurrency and bring in billions in new capital.

Final Thoughts: Cautious Optimism for LINK Holders

For the first time, the Bitwise Chainlink ETF is close to being a reality. However, it is still not quite there. While the DTCC listing shows progress, until the SEC gives its nod officially, the price of LINK will probably remain volatile.

Still, the message is clear: this altcoin is entering Wall Street's radar. It could be weeks or months, but a regulated LINK fund will be a game changer for crypto investors searching for safe and compliant ways to hold altcoins.

So for now, patience might be the smartest move, as the next big LINK rally might just be around the corner once this fund finally gets the green light.
Disclaimer: This article is for educational purposes only, kindly do your own research before investing.