Chainlink Spikes, CLNK Investors Must Wait

Chainlink has seen a 4.1% price increase over the past 24 hours, reaching $12.097 on Saturday. However, investors in its largest new U.S. fund, Bitwise Chainlink ETF (CLNK), cannot trade this move until Tuesday due to the NYSE Arca calendar.

The CLNK ETF stopped trading on Friday afternoon and will remain closed on Monday for Labor Day. This creates a mismatch between the two trading clocks: LINK continues to trade continuously, while CLNK's price is locked in from Friday's last executable price.

When the fund reopens on Tuesday at 9:30 a.m., investors can expect to see if the token balance has increased, indicating fresh demand. The fund currently holds 3.71 million LINK tokens and 2.04 million shares, with an asset base of $43.39 million.

Bitwise's CLNK record shows that the 30-day median bid-ask spread was 0.57%, exceeding its annual sponsor fee of 0.34%. This means that execution costs may be higher than expected for short holding periods.