Grayscale Investments' portfolio in
Chainlink
(LINK)
reached an all-time high in November 2025
, even as the token's value dropped by 50% from its previous quarterly high. The company's increasing trust in Chainlink's future prospects has been
demonstrated by a fourfold rise in LINK holdings
over the last two years, now totaling 1.3 million tokens, according to CoinGlass. This accumulation highlights Grayscale's strategic commitment to Chainlink as a core infrastructure for decentralized finance (DeFi) and asset tokenization, despite ongoing market turbulence.
The recent price drop,
caused by widespread weakness in the crypto sector
, has sent
LINK
back to a crucial support zone that has played a key role over the past two years. Experts believe this area could offer attractive entry points for buyers, as the token’s Exchange Supply Ratio—which tracks exchange balances as a share of total supply—
reached its lowest point in November
. This metric often indicates less selling pressure and the possibility of price stabilization. Grayscale’s research publication, The LINK Between Worlds,
highlights Chainlink’s importance in providing secure data connectivity
between blockchain-based applications and external systems, a feature that is becoming increasingly essential for compliance and interoperability across blockchains.
Zach Pandl, who leads research at Grayscale,
pointed out the significant untapped potential in tokenized assets
, which currently make up only 0.01% of the total capitalization of global equity and bond markets. The report is consistent with Grayscale’s latest regulatory moves, including a spot LINK ETF proposal (GLNK) filed with the U.S. Securities and Exchange Commission (SEC). The company
updated the application in late 2025
, aiming for a launch on December 2, 2025. This step follows Bitwise’s Chainlink ETF (CLNK), which was listed on the Depository Trust and Clearing Corporation (DTCC) platform, reflecting rising institutional interest in the asset.
Grayscale’s optimistic outlook stands in contrast to LINK’s recent price action, which has mirrored the broader downturn in the crypto market. Nevertheless, the company’s research stresses Chainlink’s distinct role in securing decentralized applications (dApps) and supporting enterprise-level adoption.
The report notes
, that leading financial firms such as Mastercard and UBS have already adopted Chainlink’s infrastructure. The increasing appetite for tokenized assets, together with Chainlink’s middleware solutions, positions the network to benefit from the growing DeFi sector.
Market analysts observe that Grayscale’s accumulation strategy is similar to its approach with
Bitcoin
and
Ethereum
, where long-term holding and regulatory involvement have historically strengthened investor trust. Although LINK’s price remains below its all-time high, the company’s research and ETF initiatives are designed to cement the token’s place in the digital asset ecosystem. The success of the GLNK ETF could further affirm Chainlink’s value as infrastructure,
especially as tokenization becomes more prominent in traditional finance
.