• Chainlink (LINK) ETF nears US approval, showing “active” and “pre-launch” on DTCC stages.
• LINK is trading steadily within $13–$26 range, forming a symmetrical triangle over the past year.
• The US government shutdown delays crypto ETF approvals, affecting multiple projects, including LINK ETFs.

Chainlink (LINK) exchange-traded fund (ETF), ticker symbol CLNK, is now launching shortly inside the USA markets. It shows “active” and “pre-launch” on DTCC, which is a stage before every SEC approval. It is an indicator that readiness for trading is at a final stage, although this doesn’t guarantee anything.

The Form S-1 was registered by Bitwise in August to follow LINK, the cryptocurrency that fuels Chainlink’s blockchain-based oracle network, which has partnered with blockchain initiatives with real-world data. Before trading, another filing will occur, which is Form 8-A. It marks the last stage before trading begins.

At press time, LINK is trading at $15.13, down 3.93% over the last 24 hours but up 86% weekly, according to CoinMarketCap. The token has a $10.57 billion market cap with $681 million in daily volume. Open interest sits around $667 million, showing steady activity in derivatives markets.

Chainlink $13-$26 Range Tested

A well-known crypto analyst, Ali Martinez, highlighted that “no-trade zone.” The next major breakout could define its long-term trend direction. On daily charts, LINK moves between $13 and $26, forming a symmetrical triangle over a year.

Open interest in LINK futures is up to $667 million, a growth from last week’s $630 million. The rise shows that market participants are increasingly exposing themselves to the market even after a period of cautious trading. LINK, as a rule, sees a price increase when open interest goes up, but a high level of leverage may provoke big sales around the support level of $14.

US Shutdown Slows Crypto ETF Approvals

The government shutdown in the US, now at 42 days, makes ETF approvals slower. Despite the passing of a funding bill through the Senate, staffing restrictions make crypto ETF filings linger. The assets that are pending include Solana, Avalanche, Hedera, and Aptos.

Grayscale has also applied for a Chainlink ETF, although the structure of their staking strategy could require additional oversight by regulators. Meanwhile, Bitwise’s ETF continues to move quietly towards a potential listing in the US market.

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LINK Price Range Holds Ahead of ETF Catalysts

The SEC has recently issued generic listing requirements for crypto ETFs. When their operations normalize, this will make it possible for a number of ETFs, including the Bitwise Chainlink ETF, to list easily and quickly in the US market.

Chainlink continues to be range-bound, indicating conservative market sentiment. Breaking out past $18 could ignite a surge towards the mid-$20s, and a break below $13 could signal potential weakness. Analysts identify ETF trends as the driving force that will break the stagnation holding LINK price action.

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