Grayscale expands LINK holdings as Bitwise files ETF: Can Chainlink reclaim $15.80?
Chainlink gained broader institutional exposure through Grayscale, Bitwise, and Bottomline as LINK tested its yearly high.
Grayscale increased its Chainlink [LINK] exposure as institutional interest around the altcoin expanded through ETFs.
Reportedly, Grayscale bought an additional 159,480 LINK valued at nearly $2.36 million via its Chainlink ETF.
The latest transaction came from a Coinbase Prime hot wallet, according to the transaction data shared by Onchain Lens on X. This predictably extended its September accumulation pattern.
A day earlier, the ETF accumulated 88,661 LINK in one day, valued at approximately $1.34 million.
Furthermore, the fund had also received 177,210 LINK worth roughly $2.27 million one week earlier and another 203,810 LINK, valued near $2.40 million, two weeks earlier.
In total, the transactions combined brought September accumulation to at roughly 629,100 LINK, worth approximately $8.37 million.
Bitwise brings staking into the ETF story
Additionally, the institutional activity expanded beyond Grayscale after Bitwise filed a new SEC prospectus for its Chainlink ETF.
This filing involved plans to allocate 20% of the fund’s LINK holdings towards staking.
The strategy, as a result, would add a staking element alongside the underlying exposure of the ETF to Chainlink.
Chainlink reaches more than 600 banks
Aside from the ETF story, Bottomline initiated Global Pay Connect, utilizing the Chainlink ecosystem, expanding blockchain-based settlement usage across its banking network.
In fact, Bottomline is ranked among the world’s largest SWIFT service providers, serving more than 600 banks.
Additionally, its network also handled over $16 trillion in payments annually, giving the launch substantially traditional-finance reach.
More importantly, the launch will integrate blockchain capabilities without requiring banks to leave their existing systems.
LINK hits 2026 high, then retreats
Chainlink’s price reflected the broader structural recovery before encountering a rejection at its 2026 high.
Notably, the weekly timeframe chart showed LINK reaching $15.80 before retracing toward $14.43 as of reporting time.
The price, however, remained above the crucial $13.75 support level following its latest impulse move from the lower support region.
It is also worth noting that the rejection made $15.80 the immediate level separating the current recovery from another potential price advance.
A strong weekly close above the $15.80 level could expose the next resistance around the $17.63 region before challenging the psychological $20 level.
Alternatively, an extended retracement below the $13.75 support could shift attention toward the deeper $11.18 support area.
Final Summary
- Grayscale and Bitwise increased their institutional LINK exposure as Chainlink pushed deeper into traditional finance.
- LINK could extend its weekly recovery in case buyers counter the retracement and reclaim the $15.80 yearly high.
