Chainlink (LINK) price lags behind despite zero ETF fund outflows: the following factors may change this trend

Since its launch, Grayscale's Chainlink ETF has not experienced any outflows; instead, it has accumulated a net inflow of $54.69 million. Whale investors have also maintained a strong buying momentum.

Despite these positive indicators, the price of LINK continues to decline. Analysts point out that several upcoming catalysts may support the growth of this cryptocurrency.

The Chainlink ETF Continues to Attract Institutional Investors

BeInCrypto previously reported that the first Chainlink spot ETF was listed on the New York Stock Exchange Arca on December 2. On its first day of trading, the fund recorded an inflow of $37.05 million. Subsequently, the fund... experienced a single outflow despite having zero net flows on three different trading days.

According to data from SoSoValue, the ETF had a net inflow of $2.02 million on December 15. Notably, the fund's cumulative inflows have now surpassed those of other altcoin ETFs, including Dogecoin and Litecoin products, even though those ETFs were launched much earlier.

Meanwhile, demand for bitcoin and ethereum ETFs has weakened. On December 15, bitcoin ETFs recorded a net outflow of $357.69 million, while ethereum ETFs saw an outflow of $224.78 million. Against this backdrop, the Chainlink ETF continues to maintain a neutral to positive trend.

In addition to ETF flows, on-chain data shows that the largest Chainlink holders have also significantly increased their holdings. Analytics platform Santiment reported that since November 1, the top 100 wallets have accumulated an additional 20.46 million LINK, worth approximately $263 million. This indicates very strong investor confidence in LINK.

Despite Price Declines, Analysts Outline Key Catalysts for LINK

However, LINK's price has yet to reflect this upward momentum. According to BeInCrypto Markets, LINK's price has fallen by 11.1% over the past month.

The decline continued today, with LINK's price dropping another 6% amid a broader market sell-off. At the time of writing, LINK was trading at $12.78.

Market analysts have listed several potential catalysts that could support Chainlink's price. Last week, the US Securities and Exchange Commission approved a three-year asset tokenization pilot program for the Depository Trust Company.

Although the blockchain protocol to be used in the program has not yet been finalized, analysts believe Chainlink could become a leading candidate, which would greatly enhance its institutional adoption prospects.

One analyst stated: "Ultimately, ETH and LINK are the foundational pillars for trillions of future on-chain transaction volumes tied to real-world assets. If this core thesis holds true, then the simple solution is to buy these assets when prices are low and wait." Comment.

Additionally, in its 2026 market outlook, Grayscale highlighted that LINK is expected to benefit from the continued growth of stablecoins, asset tokenization, and decentralized finance applications.

Therefore, although LINK's price remains under short-term pressure, ongoing ETF inflows, strong whale buying, and the growing number of institutional use cases suggest that its underlying demand remains solid. As asset tokenization and on-chain finance continue to develop, these factors are likely to play a key role in shaping Chainlink's next price movement.