A surge in Chainlink (LINK) trading kicked off this week after a social-media document on Jan. 6 claimed the SEC had approved Bitwise’s Chainlink ETF — a headline that set off market chatter but didn’t tell the whole story. What actually happened Bitwise has not received formal SEC approval for a LINK ETF. Instead, the issuer submitted an amended Form S‑1 and completed Exchange Act registration processes: NYSE Arca has approved the ETF’s shares for listing and they’re registered under Form 8‑A, but trading cannot begin until the SEC declares the S‑1 effective. (Source: sec.gov) Why markets reacted Even without final SEC sign-off, the filing contained details that stoked investor interest. Bitwise proposed a 0% management fee for the first three months on up to $500 million in assets — a move that likely helped fuel a roughly 12% jump in LINK’s price as traders priced in potential demand rather than regulatory clearance. Flows and on‑chain dynamics Institutional activity appears to be heating up. The proposed ETF already drew roughly $2.24 million in inflows, signaling early institutional appetite for LINK exposure. Meanwhile, metrics suggest institutions are continuing to remove LINK from circulation, tightening available supply. (Source: SoSoValue) Fundamentals and developer traction Beyond ETF speculation, Chainlink’s fundamentals show growing adoption. It ranked first in DeFi developer activity with 191 contributions, and cumulative fees collected by the network have topped $6.9 million — indicators of expanding usage of Chainlink’s decentralized oracle services in Web3 and DeFi projects. (Source: CryptoDep) Technical picture Technically, LINK was testing a key resistance band around $15–$16. A decisive breakout above that zone could clear the way toward $20 and ultimately challenge a multi‑year resistance near $27. Momentum indicators such as the RSI and MACD were pointing to bullish potential if the resistance is breached — though a failed break could trigger a short‑term pullback. (Source: TradingView) Takeaway The recent price pop reflects a mix of ETF filing developments, early institutional flows, and strengthening on‑chain and developer fundamentals. With critical resistance levels approaching, the next few days will likely determine whether LINK can sustain its rally or face consolidation. Disclaimer: AMBCrypto's content is informational and not investment advice. Cryptocurrencies are high‑risk investments; do your own research before trading. © 2026 AMBCrypto Read more AI-generated news on: undefined/news

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