Crypto ETF Weekly Report | Last week, US Bitcoin spot ETF net inflows of US$1.805 billion; 21Shares has submitted S-1 registration form for SUI ETF to the US SEC
転載元： chaincatcher
05/06/2025·7DCompiled by: Jerry, ChainCatcher
Crypto spot ETF performance last week
US Bitcoin spot ETF net inflows of US$1.805 billion
Last week, US Bitcoin spot ETFs had a net inflow of four days, with a total net inflow of US$1.805 billion and a total net asset value of US$113.15 billion.
Last week, four ETFs were in a net inflow, mainly from IBIT, BTC, and HODL, with inflows of US$2.48 billion, US$41.9 million and US$19.2 million respectively.
Source: Farside Investors
US Ethereum spot ETF net inflow of US$106 million
Last week, U.S. Ethereum spot ETFs experienced net inflows in four days, with a total net inflow of US$106 million and a total net asset value of US$6.40 billion.
Inflows last week were mainly from BlackRock ETHA, with a net inflow of $87.6 million. There are 4 Ethereum spot ETFs in total and there is no capital flow.
Source: Farside Investors
Hong Kong Bitcoin Spot ETF Net Inflow 25.73 Bitcoins
Last week, Hong Kong Bitcoin spot ETFs had a net inflow of 25.73 bitcoins, with a net asset value of US$397 million. Among them, the issuer Jiashi Bitcoin held by the number of Bitcoin fell to 302.29, while China increased to 2180.
Hong Kong Ethereum spot ETF has no capital inflow and its net asset value is US$36.66 million.
Source: SoSoValue
Crypto spot ETF Option performance
As of May 2, the nominal total transaction volume of Bitcoin spot ETF options in the United States was US$910 million, and the nominal total transaction ratio was 3.01.
As of May 1, the total nominal holdings of US Bitcoin spot ETF options reached US$13.11 billion, and the total nominal holdings long and short ratio reached 2.10.
The market's trading activity against Bitcoin spot ETF options has increased in the short term, and overall sentiment is bullish.
In addition, the implied volatility is 51.89%.
Source: SoSoValue
A brief overview of the dynamics of encrypted ETFs last week
According to The Block, Brown University, a prestigious Ivy League school, disclosed in an institutional investment manager shareholding report filed with the U.S. Securities and Exchange Commission (SEC) that the school holds approximately $5 million in BlackRock spot Bitcoin ETF share.
21Shares has submitted the S-1 registration form for SUI ETF to the US SEC
Swiss asset management company 21Shares has filed the S-1 registration form for the SUI ETF with the U.S. Securities and Exchange Commission (SEC). “Since we first looked at Sui, we have believed it can be one of the most exciting blockchains in the industry and we are witnessing the realization of this assertion,” Duncan Moir, president of 21Shares, said at Sui’s annual Basecamp conference.
US wealth platform exceeds 31 trillion US dollars of capital cannot access Bitcoin ETFs
According to Tephra Digital, the total capital of multiple wealth management platforms in the United States currently exceeds $31 trillion, but they are still restricted or prohibited from accessing Bitcoin ETFs.
Grayscale launches Grayscale Bitcoin Adopters ETF
According to official news, Grayscale announced the launch of the Grayscale Bitcoin Adopters ETF (BCOR), providing exposure to companies that have used Bitcoin as a treasury reserve asset.
These companies are reported to span multiple industries, but are all promoting Bitcoin adoption.
21Shares Submits a DOGE ETF Application to Nasdaq
According to market news, 21Shares submitted a DOGE ETF application to Nasdaq.
According to documents submitted by Nasdaq to the SEC, Nasdaq intends to list and trade the 21Shares Dogecoin ETF under the 5711(d) rule. The trust is managed by 21Shares US LLC. Coinbase Custody custody Dogecoin assets and tracks the DOGE-USD fixed-price index released by CF Benchmarks. ETFs will be subscribed and redeemed in cash only, with 10,000 shares per basket, and the trust will not use leverage or derivatives, nor will it participate in pledge or income generation.
According to Edaily, South Korea's ruling National Power Party has announced seven new policies to cultivate a digital asset ecosystem, and plans to open up spot ETF transactions such as BTC within the year, and abolish the "1 exchange-1 bank" restrictions to promote the entry of institutional funds.
Other policies include the introduction of a stablecoin regulatory framework, the promotion of STO legislation, and the formulation of the Basic Law on Digital Assets. The party also plans to set up a special committee on virtual assets directly under the presidential candidates to coordinate the promotion of relevant reforms.
ETF publisher Teucrium will launch reverse XRP ETF
According to CoinDesk, exchange-traded fund issuer Teucrium has announced plans to launch a reverse XRP ETF so investors can profit from the decline in XRP prices, but demand assessment is required.
In addition, Teucrium has launched the Teucrium 2x Long Daily XRP ETF, the first US XRP exchange-traded fund, aiming to provide double the daily returns to XRP through swap agreements and use EEX-traded products as reference rates.
Grayscale urges US SEC to approve ETH ETF pledge, saying it has missed about $61 million in earnings
According to Bitcoin.com, asset management company Grayscale met with the SEC crypto working group on April 21 to apply to allow its Ethereum ETF (ETHE and ETH) to stake operations. The company said that due to regulatory restrictions, the $8.1 billion in assets it managed had missed about $61 million in potential gains since its product launch to February 2025.
Grayscale proposes three arguments:
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Similar products in Europe and Canada have been successfully pledged;
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Staking can enhance Ethereum network security;
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A risk control plan including "liquidity reserve" has been formulated.
Coinbase Custody will provide technical support to avoid the risk of confiscation. Currently, US spot Ethereum Exchange-traded products (ETPs) cannot fully reflect the value of underlying assets due to banning pledges. Grayscale calls on the SEC to update regulatory rules in accordance with traditional financial products.
According to Cointelegraph, nearly 16 months after the launch of the spot Bitcoin ETF, Grayscale's GBTC still dominated revenue generation, implied annual revenue of more than $268 million - a figure that exceeds the combined revenue of all other Bitcoin ETFs ($211 million).
US SEC delays approval of Franklin XRP spot ETF to June 17
US SEC postpones application decision for Bitwise spot DOGE ETF
Perspectives and analysis on encrypted ETFs
According to The Block, Bitwise chief investment officer Matt Hougan said that the four major financial institutions Merrill Lynch, Morgan Stanley, Wells Fargo and UBS Group, which manage more than $10 trillion in customer assets, are expected to fully support Bitcoin ETF products by the end of this year.
Although Bitcoin ETFs’ capital inflows earlier this year were not as good as the same period in 2024 (which attracted only about $4 billion so far compared to $11.8 billion in the same period last year), Hougan still predicts a new record of net capital inflows in 2025.
He pointed out that institutional participation is increasing in an all-round way - nine of the world's top ten hedge funds have already held Bitcoin, including institutional investors such as Emory University and Texas Teacher Retirement System, as well as large asset management companies such as BlackRock have also joined the market, and these factors will push more investors into the Bitcoin market.
According to The Block, Robert Mitchnick, head of digital assets at BlackRock, said at a Dubai Token2049 event that Bitcoin ETF funds are flowing in large quantities and the investor structure is shifting from retail to institutions.
Mitchnick noted that the initial stage of the ETF launch was mainly participated by retail customers, including high-net-worth individuals with more than $100 million in holdings. However, the proportion of retail customers gradually declined every quarter, while the proportion of institutional and wealth management customers continued to rise. Regarding altcoin ETFs, he said that market interest is still mainly focused on Bitcoin because its attributes as a portfolio hedge tool are different from other cryptocurrencies.
Matrixport: Bitcoin ETFs and futures funds return, long-term holding demand rebounds
Matrixport released today's chart saying that judging from the daily chart starting from March 19, Bitcoin ETF funds continued to flow out, and the holdings in the futures market also fell simultaneously. From January to April, ETFs had cumulative net outflows of nearly $5 billion.
However, we have recently observed a large-scale inflow of nearly US$3 billion, and futures open contracts have also increased simultaneously. Interestingly, the funding rate remains at a low level.
It can be seen that the current new capital inflow mainly comes from real long-term holding demand. Compared with ETF buying driven by arbitrage funds at the beginning of the year, the overall long signal is more positive.
According to the latest data shared by Bloomberg analyst @JSeyff, so far, many institutions have submitted applications for spot encrypted ETFs such as LTC, SOL, and XRP.
Bloomberg Intelligence estimates that the probability of Litecoin, Solana, and crypto asset basket/index ETFs being approved is 90%, XRP is 85%, DOGE and HBAR is 80%, and DOT, AVAX, ADA, etc. are 75%.
All projects' 19b-4 documents have been confirmed by the SEC, and the final approval deadline is concentrated in the second half of 2025.
