Chainlink sees $10M ETF inflows – Why LINK’s price still struggles

Bitwise’s latest $1.17 million LINK transfer from Wintermute adds to a broader pattern of institutional activity around Chainlink [LINK].

The repeated depositing of money into the Bitwise Chainlink ETF is indicative of continuing investment in the Chainlink ETF. According to SoSoValue data, the two-day chain of inflows in this period added approximately $10 million in new capital into the Chainlink ETF.

However, the influx of new capital did not lead to an increase in the value of funds invested.

The cumulative net inflows had been at roughly $179.61 million. However, the total net assets declined from $249.41 million to $229.38 million.

As such, it appears that the decline in the price of LINK has resulted in decreased value of all funds despite increased investor exposure.

Sustained levels of investment may potentially add to institutional support for Link, as well as provide a basis for the price of LINK to recover from current market conditions.

However, unless there is an increase in demand, the price of LINK will be subject to diminished trading volume.

Chainlink secures 60% of the Oracle market

LINK’s dominance indicates how heavily DeFi protocols rely on its oracle infrastructure to secure assets and support financial activity. Chainlink currently controls an estimated 60.28% of all tracked oracle value, currently sitting near $36.6 billion across over 530 protocols.