Grayscale's Chainlink ETF Value Plummets Amidst 18% Chainlink Price Drop

Grayscale's Chainlink Trust ETF (GLNK) has seen its value decline significantly after Chainlink's price fell by 18% over the last three months. The fund currently holds 10,030,901.11 LINK tokens as its sole asset, worth $72.2 million at the end of June. This represents a sharp drop in dollar terms, despite the token count remaining unchanged from the prior quarter.

GLNK began trading on NYSE Arca in December 2025 after Grayscale converted a Delaware trust into an ETF using a faster rule change approved by the SEC just months earlier. The fund's launch was initially strong, with $41 million in inflows on its first trading day and assets under management reaching $73 million by April.

However, projections of GLNK reaching $150 million to $300 million in assets under management by mid-2026 have not materialized, with the current AUM at just $72.2 million. Grayscale charges a 0.35% annual sponsor's fee on GLNK's assets, which totaled roughly $136,000 for the six months ended June 30.