Grayscale’s new spot exchange-traded fund (ETF) for Chainlink has launched with solid investor demand, attracting $41 million in net inflows on its debut. The launch provides a key data point in the ongoing debate over whether investor appetite for altcoins can withstand a cooling crypto market.

A Strong Debut in a Tepid Market

According to Bloomberg ETF analyst Eric Balchunas, the product finished its first session with approximately $13 million in trading volume. This performance places the Chainlink ETF among the stronger launches this year, suggesting that regulated investment vehicles are a preferred entry point for investors seeking exposure to higher-risk digital assets.

The fund’s opening day significantly outpaced the Solana ETF, which saw just $8.2 million in volume. However, it trailed the XRP ETF, which remains the category leader after recording an impressive $243 million in first-day inflows.

Despite the strong start, some analysts advised a measured perspective. ETF analyst James Seyffart noted the launch wasn’t a “blockbuster” but acknowledged it was a very good result. He pointed out that the fund’s assets under management quickly grew to $64 million, which included an $18 million seed allocation. Seyffart suggested that the fund’s success shows that less liquid assets can still attract significant attention when offered in an ETF wrapper, which widens market access.

The ETF debut offered little immediate benefit to Chainlink’s native LINK token. While the token is up nearly 10% over the past week, it remains down more than 39% over the last year. Chainlink’s core appeal is its role as critical market infrastructure, supplying on-chain applications with external data that enables reliable price feeds and cross-chain functionality.

Altcoin ETFs Gain Momentum

The Chainlink ETF arrives amid a wave of new altcoin investment products. Over the past month, issuers have launched funds tied to Solana, XRP, and Dogecoin, with additional listings planned for the near future. The Canary Capital XRP ETF (XRPC) debuted with $58 million in net inflows, while the Bitwise Solana Staking ETF (BSOL) launched with $57 million.

The BSOL fund has been a notable success story in 2025, accumulating over $660 million in assets within its first three weeks without a single day of outflows. This trend is set to continue, as the New York Stock Exchange has approved the listing of Grayscale’s XRP and Dogecoin ETFs. At the same time, Bitwise Asset Management has also unveiled its own Bitwise Dogecoin ETF to meet growing investor demand for altcoin exposure.

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