Chainlink's price has dropped 7% to $12.17 in the past 24 hours, even as trading volume surged by 122% to $609 million. This decline comes despite Grayscale receiving approval to launch the first US Chainlink ETF on NYSE Arca. The ETF, trading under the ticker GLNK, will convert Grayscale’s $30 million Chainlink Trust into an ETF format following SEC approval. This development marks a significant step in regulatory acceptance of altcoin ETFs beyond Bitcoin and Ethereum.