Hello Janet - I think it is possible to chip a bike - Datatag do a product whereby a chip can be secured into the inside of the frame - not always easy to find an accessible location! - with stickers that identify and register the bike.
I have used them in the past, always seemed a good idea. The latest datatag product looks different, the I D labels seem less obtrusive, which is good in one sense on an expensive frame but is it as much of a deterrent??
Datatag available from SJSC.
I put datatag stickers on my daughter's 'university' bike - after her first one, a new purchase Ridgeback, was stolen. It was replaced by a 30 yr old Norco salvaged from a friend's cellar - a very basic 5 speed bike but suits her very well. Despite it's low value, I put datatag stickers all over it (I bought 2 or 3 packs discounted) and also made a label saying - All components chipped - which I zip-tied onto her rack. So far, so good - not been stolen! - but how much that helped I don't know.
I think chipping is worth looking at.
Lewis