Novel water‐developable negative resists were designed to induce both crosslinking and polarity change upon exposure and bake. The matrix polymers were synthesized by copolymerization of glyceryl methacrylate and methacrolein. The acid‐catalyzed acetalization of the polymer induced crosslinking, polarity change, and an increase in dry‐etch resistance. The resist formulated with this polymer and cast in a water/ethanol mixture showed 0.7 μm line and space patterns using a mercury–xenon lamp in a contact printing mode and pure water as a developer.