Grayscale Loads Up on Chainlink as Institutional Interest Surges
Grayscale has increased its exposure to Chainlink (LINK) through its Chainlink ETF. The fund purchased an additional 159,480 LINK valued at nearly $2.36 million in September, as part of a larger accumulation pattern. This followed previous purchases of 88,661 LINK ($1.34 million), 177,210 LINK ($2.27 million), and 203,810 LINK ($2.40 million) earlier in the month.
In total, Grayscale's transactions brought its September LINK holdings to approximately 629,100 units, worth around $8.37 million. Meanwhile, Bitwise plans to allocate 20% of its LINK holdings towards staking as part of a new ETF filing.
Chainlink has also made significant inroads into traditional finance through partnerships such as Global Pay Connect with Bottomline, which will use the Chainlink ecosystem for blockchain-based settlement across its banking network. This deal expands Chainlink's reach to over 600 banks and handles over $16 trillion in payments annually.