Uniswap (UNI), Chainlink (LINK) Prices Set To Surge On This Bullish Cue
Popular altcoins Uniswap (UNI) and Chainlink (LINK) are likely to see big price rises in the coming days, after digital asset manager Coinshares said it will list ETPs featuring the two.
CoinShares said in an announcement it will list two new physically-backed exchange-traded products (ETPs) tracking the prices of UNI and LINK. The ETPs will be listed on Germany’s Xetra exchange.
The tokens reacted positively to the announcement, rising off intraday lows. UNI is up 4% from its intraday low at $7.03, while LINK rose about 3% to $11.25, with both tokens now trading positive for the day. But both tokens were also trading at their lowest levels since January 2021, owing to broader weakness in the crypto market.
Major Ethereum whales already appeared to be loading up on UNI and LINK after the announcement. Data from Whalestats showed that UNI was among the 10 most-purchased tokens by whales in the past 24 hours.
UNI, LINK to see increased institutional interest on CoinShares listing
Coinshares said the new ETPs will be listed from today. They will both charge an annual management fee of 1.50%, and will be denominated in U.S. dollars.
The move is expected to benefit UNI and LINK, given that investors can now buy into the two tokens without actually holding any crypto. This aspect of ETPs makes them extremely attractive to big trading houses, who are hesitant to directly hold cryptocurrencies.
The ETPs are CoinShares’ seventh new launch this year. In April, the firm launched an ETP tracking the FTX token, in a tie-up with the crypto exchange. The two had earlier also launched an ETP offering investors access to Solana staking rewards.
CoinShares also operates ETPs tracking Bitcoin, Ethereum, and other major altcoins.
Institutional interest a major price driver
Historically, higher amounts of institutional trading in crypto have always driven big gains in prices. Bitcoin’s meteoric rise to record highs in November came right at the heels of the first Bitcoin ETF being released in the United States.
But this also works conversely- dumping by major trading houses is reflected in sharp price declines. Waning interest in Bitcoin this year is one of the main drivers of the token’s underperformance.
- Polymarket Founder Shayne Coplan Teases Potential POLY Token After $2B ICE Deal
- FOMC Minutes Signal Fed Open to More Rate Cuts This Year, Bitcoin Bounces
- North Dakota To Issue ‘Roughrider’ Stablecoin Following Wyoming’s Footsteps
- Ethena Labs and Jupiter Partner to Launch JupUSD Stablecoin on Solana
- BlackRock’s Bitcoin ETF Leads ETFs With $3.5B Weekly Inflows as It Eyes $100B in AUM
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
