Grayscale's Chainlink ETF Sinks to $72M After LINK's 18% Slide

A Routine Filing With Alarming Numbers

The quarterly report, covering the three months ended June 30, shows the Grayscale Chainlink Trust ETF (GLNK) holding 10,030,901.11 $LINK tokens as its sole asset. At the fund’s principal-market close, that stake was worth $72.2 million, unchanged in token count from the prior quarter but down sharply in dollar terms as Chainlink’s price slid.

10-Q filings are routine disclosures every U.S.-listed fund must submit each quarter, and GLNK’s paperwork doesn’t break new regulatory ground. But the numbers inside it capture a token that has struggled since institutional investors got direct access to it. GLNK began trading on NYSE Arca on December 2, 2025, converting a Delaware trust that Grayscale had run privately since 2020 into a fund anyone with a brokerage account could buy.

GLNK’s fast route to market traces back to a rule change less than a year old. The SEC approved generic listing standards for crypto exchange-traded products in September 2025, letting exchanges like NYSE Arca list qualifying crypto trust conversions without the individualized rule-filing process that used to take the better part of a year. Grayscale used that faster runway to bring GLNK, along with several other single-asset trust conversions, to market within months.