Bitwise Chainlink ETF (NYSE: CLNK) sheds value as Chainlink price drops

The Bitwise Chainlink ETF (CLNK) reported a significant net asset decline of $7.4 million since its January 2026 launch, primarily due to a 47.60% drop in Chainlink's price from $13.73 to $7.20 by June 30, 2026. Despite fee waivers, unrealized depreciation of $7.39 million led to a negative total return. The Trust operates as a grantor trust for tax purposes and aims to provide exposure to Chainlink, with plans for future staking activities.