Grayscale and Bitwise have increased their institutional investments in Chainlink (LINK) as interest in this altcoin grew through ETFs. Grayscale acquired an additional 159,480 LINK worth approximately $2.36 million through its Chainlink ETF. This latest transaction was conducted from a Coinbase Prime hot wallet, as reported in transaction data published by Onchain Lens on X. Thus, the accumulation strategy initiated in September continued.
The day before, the ETF accumulated 88,661 LINK in one day, valued at approximately $1.34 million. Additionally, the fund also acquired 177,210 LINK worth approximately $2.27 million a week ago and another 203,810 LINK valued at around $2.40 million two weeks ago. In total, these transactions led to the accumulation of approximately 629,100 LINK worth about $8.37 million in September. Institutional activity expanded beyond Grayscale: Bitwise filed a new prospectus with the SEC for its Chainlink ETF. This filing includes plans to allocate 20% of the fund's assets in LINK for staking. This strategy will add a staking element alongside the ETF's primary exposure to Chainlink. Outside the ETF context, Bottomline initiated the launch of Global Pay Connect using the Chainlink ecosystem, which will expand the use of blockchain technologies in banking settlement networks. Bottomline is among the largest SWIFT service providers in the world, serving over 600 banks and processing more than $16 trillion in payments annually. Moreover, this launch integrates blockchain capabilities without requiring banks to abandon their existing systems.
The price of Chainlink reflected a broader market recovery before encountering resistance at the 2026 level. LINK reached $15.80 before retreating to $14.43 at the time of reporting. Nevertheless, the price remained above the key support level of $13.75 following the latest impulse move from the lower support zone. Notably, rejection at the $15.80 level separated the current recovery from another potential price increase. A strong weekly close above the $15.80 level could pave the way to the next resistance level around $17.63 before testing the psychological level at $20. Otherwise, a prolonged pullback below the $13.75 support could shift focus to a deeper support zone at $11.18.
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