One misconception I've seen with the recent LINK CME launch is that cash-settled futures have no impact on the spot market But that isn't true Futures markets are tightly correlated to the underlying spot market via arbitrage, they move together and influence each other For example, if people are buying up LINK CME futures which makes the price trade above spot, then market makers will come in to buy the spot ETF (e.g., Grayscale GLNK or Bitwise CLNK) and short the futures This creates a delta neutral position which pushes the spot price up and futures price down, bringing the price of both markets back to equilibrium, with the spot price now at a higher floor than before The futures and spot markets are thus highly connected, and as a result, enables spot LINK ETFs to grow in liquidity, volume, and AUM faster than they otherwise could have And this is just one of the many benefits the LINK CME futures launch brings The more you know(Zach Rynes | CLG)