Crypto ETF Weekly Report | Last week, the US Bitcoin spot ETF had a net outflow of US$580 million. The SEC has accepted applications for Sol spot ETFs such as 21Shares

Compiled by: Fairy, ChainCatcher

Crypto spot ETF performance last week

Net outflow of US Bitcoin spot ETFs $580 million

Last week, US Bitcoin spot ETFs experienced net outflows for four consecutive days, with a total net outflow of US$ 580 million and a total net asset value of US$114.4 billion.

Last week, nine ETFs were in a net outflow, mainly from FBTC, ARKB, and GBTC, with outflows of US$282 million, US$162 million and US$107 million respectively. In addition, only BlackRock IBIT and Grayscale BTC are in net inflow states.

Source: Farside Investors

US Ethereum spot ETF net outflow of US$26.3 million

Last week, the net outflow of US Ethereum spot ETFs was US $26.3 million, with a total net asset value of US$10.35 billion, and an average daily turnover of US$273 million.

The outflow last week was mainly from Grayscale ETHE, with a net outflow of $56.5 million. There are 6 Ethereum spot ETFs that have no capital flow.

Source: Farside Investors

Hong Kong Bitcoin Spot ETF Net Outflow of 30.19 Bitcoins

Last week, Hong Kong Bitcoin spot ETFs had a net outflow of 3.019 bitcoins, with a net asset value of US$417 million. Among them, the issuer Jiashi Bitcoin held by the number of Bitcoin decreased to 354, while Huaxia owned 2,340.

Hong Kong Ethereum spot ETF had a net outflow of 401.27 ETH, with a net asset value of US$54.94 million.

Data: SoSoValue

Crypto spot ETF Option performance

As of February 14, the nominal total transaction volume of Bitcoin spot ETF options in the United States was US$1.58 billion, and the nominal total transaction ratio was 3.17. As of February 13, the total nominal holdings of US Bitcoin spot ETF options reached US$11.94 billion, and the total nominal holdings long and short ratio reached 1.99. The market is active in trading on Bitcoin spot ETF options, and overall sentiment is bullish.

In addition, the implied volatility is 54.7%.

Data: SoSoValue

A brief overview of the dynamics of encrypted ETFs last week

Arca, a subsidiary of the New York Stock Exchange, has submitted an

application to the SEC to "allow Grayscale's Ethereum ETF to pledge"

Arca, a subsidiary of the New York Stock Exchange, has filed an application to the SEC to "allow Grayscale's Ethereum ETF to pledge." If approved, these ETFs will be able to obtain additional returns from their large ETH holdings, which may be transferred to investors. The New York Stock Exchange filing states that the "trust" will also receive some pledge rewards.

Cboe BZX Exchange Submits Proposal to Allow 21Shares Ethereum ETF to

Participate in Pledge

The Cboe BZX exchange has submitted a proposal to allow staking Ethereum held by the 21Shares Core Ethereum ETF and awaiting a decision from the Securities and Exchange Commission (SEC).

According to Bloomberg analyst James Seyffart, this is the first ETF to submit a pledge application to the SEC. The SEC approved several Ethereum ETFs last year, including 21Shares, BlackRock and Fidelity, but many companies removed the staking feature when they registered.

SEC accepts Grayscale XRP Trust Conversion ETF applications, and the

review process has been started

According to Fox Business reporter Eleanor Terrett, the U.S. Securities and Exchange Commission (SEC) has officially accepted the 19b-4 application filed by Grayscale and NYSE, intending to convert the Grayscale XRP Trust ($XRP Trust) into an exchange-traded fund (ETF). While this does not mean automatic approval and does not guarantee that the SEC will eventually agree to the application, this progress shows that the SEC is more open to crypto ETFs than directly refuses to consider such products.

Previously, the exchange withdrew its Solana ($SOL) ETF application due to its tough SEC stance. However, the SEC's application for XRP ETF shows that encrypted ETFs such as LTC, DOGE, SOL, XRP still have the possibility of approval. The SEC is expected to publish the application to the Federal Gazette within a few days, when the 240-day approval window will be officially opened. In addition, XRP ETF applications from institutions such as Bitwise, 21Shares, Canary Funds and WisdomTree are still awaiting processing by the SEC.

US SEC has accepted 21Shares, Bitwise, Canary and VanEck's Solana spot

ETF applications

Several institutions have submitted applications for Solana Spot Exchange Traded Fund (ETF) to the U.S. Securities and Exchange Commission (SEC), and the SEC has confirmed that it has received and accepted relevant documents.

Cboe BZX Exchange filed a proposed rule change form to support the listing and trading of Solana spot ETFs issued by 21Shares, Bitwise, Canary Capital and VanEck. Previously, the Solana ETF applications for these companies were denied.

US SEC accepts 21Shares spot XRP ETF application

US SEC has confirmed to accept DOGE ETF application

New York Stock Exchange filed Cardano ETF application for Grayscale

SEC accepts 21Shares Bitcoin and Ethereum Spot ETFs for physical

redemption applications

Nasdaq has submitted application documents to the SEC for listing and

trading of CoinShares XRP ETFs and LTC ETFs

Perspectives and analysis on encrypted ETFs

[The ETF Store President: "rug pull" by President Meme currency should

not be blamed for Crypto, technology will be further developed](https://www.chaincatcher.com/article/2167794)

Nate Geraci, president of The ETF Store, posted on X: "It only takes a few clicks to create a Meme coin, which is why 60,000 Meme coins are created every day, which is well known.

At this point, if you are 'rug pull' - whether it's Trump, Miley or others -this is not an accusation against Crypto, but your own 'pot'. For my traditional finance friends who have not played Meme coins, the focus should be on technology, not on 'grift'.

The technology is almost flawless, it is now just a real-time testing environment serving what you see, but it will evolve further from this stage. ”

[Bloomberg ETF analysts say the application progress of crypto ETF is

different, LTC leads](https://www.chaincatcher.com/article/2167486)

Bloomberg ETF analyst Eric Balchunas said that the application of many cryptocurrency ETFs on the market is currently progressing, describing that "most ETFs are still running to first base, while Litecoin (LTC) ETFs are close to third base."

The comment was made in response to a user’s question about the crypto ETF approval schedule, showing that LTC ETFs may progress the fastest among many applications, while other ETFs (such as XRP, SOL, DOGE, etc.) are still in the initial review phase.

Earlier this week, analysts predicted the probability of LTC , DOGE, SOL, and XRP spot ETFs being approved, with LTC up to 90%.

[Bloomberg Analyst: Solana ETF is approved by October 10, 2025 at

70%](https://www.chaincatcher.com/article/2166931)

Bloomberg’s digital asset analyst James Seyffart and senior ETF analyst Eric Balchunas have disclosed the probability of approval of four cryptocurrency ETF applications, including the highly anticipated Solana ETF.

According to Bloomberg analysts' assessment, Solana has a 70% chance of officially entering traditional financial markets by October 10, 2025, the final ruling deadline of the SEC's SEC. Seyffart and Balchunas are optimistic because the SEC has recently officially accepted the 19b-4 application submitted by Grayscale, a key development that has never been achieved under former SEC Chairman Gary Gensler.

[Viewpoint: The SEC lawsuit with Ripple will be settled before the XRP

ETF is approved, as the ETF takes longer to prepare](https://www.chaincatcher.com/article/2166837)

Attorney Jeremy Hogan believes that the lawsuit between the US SEC and Ripple will be resolved before the XRP ETF is approved. It adds that this is not because it has to happen in that order, but because the ETF will take longer to perfect every detail.