Bitwise Asset Management announced a formal application to launch an ETF for Chainlink (LINK), which tracks the currency's spot price without incorporating staking mechanisms, aiming to simplify regulatory acceptance and increase the chances of approval from the U.S. Securities and Exchange Commission (SEC).
🔹 Why is this important?
It allows traditional investors to easily enter the LINK market through U.S. exchanges.
It brings regulatory legitimacy that may open the door to massive institutional inflows.
LINK now joins the list of assets attracting Wall Street's attention alongside Ethereum and Avalanche.
📊 Current status of LINK:
Price: about $23.6 after a slight drop from $25.3.
Strong support at $21, while notable resistance at $27–30.
Maintaining the $23 level keeps the bullish trend intact.
💡 Will LINK reach $100?
Previous high price: $52 (May 2021).
To reach $100, the currency needs to rise about 325% from its current levels.
The entry of institutional funds through the ETF could be the main driver of this ambitious goal.
🔮 Near-term forecasts:
Expected trading range: $21 – $27 over the coming weeks.
Breaking through $30–35 could open the way to levels of $40–52.
In the medium and long term, the ETF could be the bridge that leads LINK towards $100.
📌 Summary:
The Chainlink ETF could represent a major turning point, not only for the currency but for the entire decentralized finance market, as it attracts institutional liquidity and grants LINK unprecedented regulatory legitimacy.
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