Bitwise Asset Management has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) to launch the first U.S. spot Chainlink (LINK) exchange-traded fund. The filing outlines plans for the ETF to directly hold LINK tokens, offering investors regulated exposure without the need for wallets or private key management.
According to the document, Coinbase Custody Trust and Coinbase, Inc. will manage custody of the LINK tokens. The filing also includes provisions for in-kind creation and redemption, which would allow investors to exchange LINK directly for ETF shares.
Institutional Interest in Chainlink Expands
The filing marks another step in the growing trend of institutional involvement in blockchain assets. By creating a regulated product, Bitwise aims to simplify access for investors who want exposure to Chainlink without relying on crypto exchanges.
The move comes at a time when regulators are signaling greater openness to crypto-based financial products. This ETF, if approved, would place Chainlink alongside Bitcoin and Ethereum in gaining a foothold within traditional investment portfolios.
Analysts note that the ETF filing extends beyond market access. The approval of a Chainlink ETF could reinforce regulatory trust in blockchain infrastructure and broaden the role of digital assets in corporate finance.
Industry observers suggest that this development could influence payroll systems as well. With more institutions embracing LINK through regulated channels, companies may feel more comfortable integrating cryptocurrencies into compensation strategies.
Chainlink Shows Rising Channel With EMA and Volume Support
The chart created on August 27, 2025, on the four-hour timeframe for Chainlink against the U.S. dollar LINK/USD shows a clear rising channel pattern. A rising channel is a price structure where the market trends upward between two parallel lines, making higher highs and higher lows. This type of pattern often indicates continuation of the broader bullish trend, provided that the price holds above the lower support line and remains supported by trading activity.
In the current setup, Chainlink is trading around $24.44, with the 50-period exponential moving average (EMA) at $24.62 providing nearby dynamic support. The EMA has consistently trended upward throughout August, reinforcing the bullish momentum and acting as a pivot each time the price tested lower levels. This alignment of price with the EMA strengthens the reliability of the channel, since sustained trading above the moving average usually reflects positive market structure.
Volume also plays a key role in confirming this trend. The chart shows that volume spiked during the breakout in early August when LINK surged into the channel, which indicates strong buying interest. More recently, although trading volume has declined, it remains steady enough to support consolidation along the lower boundary of the channel. If another volume surge accompanies a breakout above the upper trendline, it would significantly raise the likelihood of a rally toward the projected target.
Based on the measured move technique, the depth of the rising channel projects an upside target near $41.79, which represents about a 70 percent gain from the current price. As long as LINK maintains support at both the EMA and the channel’s lower boundary, the bullish outlook remains valid. A breakout reinforced by renewed volume could push Chainlink decisively higher toward the $41.79 level, confirming the continuation of its upward trend.
Chainlink RSI Signals Cautious Momentum Shift
The chart created on August 27, 2025, shows the Relative Strength Index (RSI) for Chainlink on the four-hour timeframe. The RSI, set to a 14-period close, currently reads 45.75, with its moving average line at 41.44. The RSI has moved sideways throughout July and August, oscillating between overbought levels near 70 and oversold conditions around 30. Right now, it sits in the mid-range zone, which reflects neutral momentum but tilts toward mild bearishness given its recent downward slope.
During July, RSI moved above 70 several times. Each spike signaled strong buying pressure. This momentum helped Chainlink stay within its rising channel. In August, the RSI showed a different picture. It failed to hold above the overbought zone. Each push higher formed lower highs. Price tried to advance, but momentum weakened. This divergence hinted that strength was fading. When RSI slipped under 50, buyers lost control. Now, with RSI near 40, sellers appear to gain traction.
The indicator has not yet reached oversold levels. It still holds above 30. However, staying capped under 50 shows hesitation. Market participants are cautious at this stage. The moving average line, now at 41.44, has flattened. It also slopes downward, showing cooling momentum. This confirms short-term weakness. Yet, the broader trend remains intact as long as RSI avoids a drop below 30.
If RSI climbs back above 50, sentiment may shift. That move would signal renewed buying strength. It would also support the case for a rally. In that case, price could retest the upper channel. The projected target near $41.79 would come back into focus. For now, RSI signals slowed momentum. But it has not crossed into extreme weakness. This zone often precedes either a bounce or a deeper correction. Traders will watch for a decisive break above or below these levels.
Chainlink MACD Points to Weakening Momentum but Signs of Recovery
The chart from August 27, 2025, shows the MACD for Chainlink on the four-hour timeframe. The MACD line is at –0.345 and the signal line is at –0.348. The histogram is almost flat at 0.003. This setup shows momentum has cooled. The market is sitting near a transition point.
In July, the MACD produced several bullish crossovers. The MACD line moved above the signal line. Each crossover came with strong green histogram bars. That signaled heavy buying momentum. It pushed Chainlink higher and confirmed the rising channel. In August, the picture changed. The histogram turned red, and the MACD dropped under the signal line. That showed sellers were gaining ground. RSI also slipped below 50, which confirmed slowing strength.
Now, the two lines sit very close near zero. This usually signals a possible shift ahead. If the MACD line moves back above the signal line, momentum will turn positive. Green histogram bars would confirm renewed buying pressure. That could support a breakout toward the $41.79 target on the price chart. If the lines move deeper below zero, weakness may continue. That would point to a retest of channel support first.
In short, momentum has weakened but not collapsed. The MACD shows hesitation after the rally. A bullish crossover with volume would restore confidence. Continued red bars would suggest more consolidation before any new rally.
