Chainlink (LINK), the native token of the eponymous network, experienced a sharp rally on Wednesday.
The token surged around 18-20% to reach an intraday high of $14.57. This is significantly higher than the rest of the top 20 tokens, including its biggest rival, XRP.
The launch of the first Chainlink exchange-traded fund (ETF) in the United States is believed to have been the main catalyst for the recent rally.
The product, which debuted on December 2nd, is a direct touch to LINK.
Grayscale, the world’s largest crypto asset management company, will offer this ETF with 0% fees from the beginning.
Bitwise filed an S-1 registration statement with the SEC on August 26, 2025 to launch a spot Chainlink ETF. The fund is registered on the register of the Depository Trust & Clearing Corporation (DTCC) under the ticker CLNK.
Canary Capital has filed an amended statement with the SEC for its American‑Made Crypto ETF, which includes Chainlink along with XRP and other assets.
ATH is still out of reach
However, LINK is still a long way from regaining its all-time high of $52.70, set in May 2021. So far, the token is down 72% from its all-time high.
April 2021 was part of a massive bull market for Bitcoin and altcoins, with investors feeling FOMO towards these tokens.
Although the ETF-led rally has been pretty strong, the level of excitement surrounding Chainlink is still quite subdued compared to back then.
