Crypto ETF Weekly Report | Last week, the U.S. Bitcoin spot ETF saw a net inflow of US$457 million, and the SEC approved Hashdex to launch a Bitcoin and Ethereum crypto index ETF

Organized by: Fairy, ChainCatcher

Crypto spot ETF performance last week

U.S. Bitcoin Spot ETF saw net inflows of $457 million

Last week, the U.S. Bitcoin spot ETF saw a net inflow of US$ 457 million, a decrease from the previous two weeks. The total net asset value reached US$109.7 billion, and the average single-day trading volume reached US$5.23 billion. The inflow mainly came from BlackRock IBIT, with a net inflow of US$1.446 billion.

All 7 ETFs are in a state of net outflows, and the following four ETFs have more net outflows:

• Fidelity FBTC had a net outflow of US$292 million, with a net asset value of US$19.82 billion;
• Ark Invest and 21Shares’ ETF ARKB saw net outflows of $171 million, with a net asset value of $4.57 billion ;
• Grayscale GBTC had a net outflow of US$248 million, with a net asset value of US$20 billion ;
• Grayscale Bitcoin Mini Trust BTC had a net outflow of US$1.71, with a net asset value of US$3.7 billion.

Source: Farside Investors

U.S. Ethereum spot ETF saw net inflow of $ 62.7 million

Last week, the U.S. Ethereum spot ETF saw a net inflow of US$62.7 million, with the total net asset value increasing to US$12.15 billion, and the average single-day trading volume reaching US$912 million. On December 19, Ethereum spot ETF trading volume reached US$1.26 billion, a record high.

BlackRock ETHA and Fidelity FETH were the main net inflows, with inflows of US$143 million and US$26.1 million respectively. In addition, 4 ETFs experienced net outflows, among which Grayscale ETHE had a net outflow of US$99.8 million.

Source: Farside Investors

Hong Kong Bitcoin Spot ETF had a net outflow of 52.74 Bitcoins

The Hong Kong Bitcoin Spot ETF experienced capital outflows for the third consecutive week. Last week, there was a net outflow of 52.74 Bitcoins, with a net asset value of US$450 million.

The Hong Kong Ethereum spot ETF has shown a trend of capital inflows for three consecutive weeks, with a net inflow of 2,630 Ethereum, and a net asset value of US$64.18 million. On December 20, the single-day net inflow reached 1,550 ETH, setting the third record in history.

Data:SoSoValue

Crypto Spot ETF Options Performance

As of December 20, the total nominal trading volume of U.S. Bitcoin spot ETF options reached US$1 billion, and the total nominal trading long-short ratio was 2.38, indicating that bulls are more active in the market. As of December 19, the total nominal positions of U.S. Bitcoin spot ETF options reached US$9.78 billion, and the long-short ratio of total nominal positions reached 1.87, further demonstrating the dominance of the bull market.

In addition, the implied volatility rate is 64.76%, reflecting that market expected volatility is still high.

Data:SoSoValue

A look at last week’s crypto ETF news

GraniteShares submits application for leveraged ETF of crypto-related

companies such as MicroStrategy

GraniteShares, an asset management company with more than $10 billion in AUM, filed for a new leveraged ETF to track the stock prices of crypto-related companies such as Riot Platforms, Marathon Digital, MicroStrategy and Robinhood. These funds will be both long and short, and an ETF that is 2x long will generate twice the daily return of the corresponding stock. For example, when Riot Platform shares rise 1%, the GraniteShares 2x Long RIOT ETF will rise 2%.

Nexo 7RCC files S-1 filing for world’s first hybrid Bitcoin and carbon

credit futures ETF

Nexo 7RCC has filed an S-1 amendment for the world’s first hybrid Bitcoin and carbon credit futures ETF. The fund uses a portfolio of 80% Bitcoin and 20% carbon credit futures, tracking carbon trading systems such as the EU carbon emissions quota, California carbon quotas and the Regional Greenhouse Gas Initiative. The SEC has approved its 19b-4 filing, which is considered the ESG version of the Bitcoin ETF. Fund price changes will be affected by Bitcoin spot prices, carbon credits and their futures prices.

U.S. SEC approves Hashdex’s launch of Nasdaq Bitcoin and Ethereum Crypto

Index ETF

According to documents released by the U.S. Securities and Exchange Commission (SEC), the SEC has approved the listing and trading of Hashdex Nasdaq Crypto Index US ETF and Franklin Crypto Index ETF. The funds will be listed on the Nasdaq and Cboe BZX exchanges respectively, allowing investors to invest indirectly in Bitcoin and Ethereum through traditional financial markets. The approval includes comprehensive market monitoring protocols to prevent fraudulent and manipulative practices.

Opinion and Analysis on Crypto ETFs

[Glassnode: Bitcoin’s correction in bull market uptrend gradually

decreases, reflecting rising ETF demand and institutional interest](https://www.chaincatcher.com/article/2158503)

Glassnode posted, “As the crypto market grows, Bitcoin’s correction in the bull market’s upward trend gradually decreases. The deepest correction in this cycle is -32% (August 5, 2024), while most The pullback is only about 25% off the previous high, reflecting increased demand for spot ETFs and rising institutional interest."

[Bloomberg ETF Analyst: It is expected that a wave of crypto ETFs will

appear next year, the first of which may be a combination ETF of BTC and ETH](https://www.chaincatcher.com/article/2157783)

Bloomberg ETF analyst Eric Balchunas predicts that there will be a wave of cryptocurrency ETFs next year. The first may be a BTC + ETH combination ETF, and then it may be LTC, HBAR, and XRP/Solana.

[K33 Research Director: U.S. Bitcoin spot ETF has surpassed gold ETF in

size](https://www.chaincatcher.com/article/2157574)

Vetle Lunde, director of research at K33, said, "In the United States, the managed assets of Bitcoin ETFs ($129.3 billion) have surpassed gold ETFs ($128.9 billion). Although gold had a 20-year first-mover advantage, it has now been overtaken."

[BlackRock executive: Ethereum ETF demand is only the “tip of the

iceberg”](https://www.chaincatcher.com/article/2157471)

Jay Jacobs, U.S. head of thematic investments and active equity ETFs at BlackRock, said in an interview with Bloomberg ETF analyst Eric Balchunas that the demand for Ethereum ETFs has only shown the “tip of the iceberg” and currently only a very small number of customers hold its bits. Coin (IBIT) and Ethereum (ETHA) ETF products. He added that BlackRock remains focused on bringing new clients to these ETFs rather than focusing on launching new ETFs related to other cryptocurrencies.

Against the background that the Federal Reserve may announce an interest rate cut this week and the market expects that the Trump administration may establish a Bitcoin strategic reserve in 2025, analysts expect ETH to exceed a record high of $5,000 before the end of the year. The price of ETH exceeded US$4,100 this morning, setting a new high for the year, and Bitcoin exceeded US$107,000 during the same period. According to historical rules, Ethereum usually sees a new round of gains 1-2 months after Bitcoin breaks new highs.

[President of The ETF Store: Invesco submitted a multi-share class

structure application to the SEC and is expected to become a popular ETF narrative next year](https://www.chaincatcher.com/article/2157455)

Nate Geraci, President of The ETF Store, posted on . This will be the hottest ETF narrative of 2025 (along with other spot cryptocurrency ETFs).”