Crypto ETF Weekly Report | Last week, US Bitcoin spot ETF had a net outflow of US$921 million; US SEC delayed approval of DOGE, XRP, LTC, Solana and ADA spot ETFs

Compiled by: Jerry, ChainCatcher

Crypto spot ETF performance last week

US Bitcoin Spot ETF Net Outflow $921 million

Last week, US Bitcoin spot ETFs experienced net outflows in four days, with a total net outflow of 9.21 $100 million.

Last week, nine ETFs were in a net outflow, mainly from IBIT, FBTC, and GBTC, with outflows of US$338 million, US$307 million and US$80.6 million respectively.

Source: Farside Investors

US Ethereum spot ETF net outflow of US$189 million

Last week, U.S. Ethereum spot ETFs experienced net outflows in five days, with a total net outflow of US$189 million.

The outflow last week was mainly from BlackRock ETHA, with a net outflow of $63.3 million.

Source: Farside Investors

Hong Kong Bitcoin Spot ETF Net Inflow of 0.86 Bitcoins

Last week, Hong Kong Bitcoin spot ETFs had a net inflow of 0.86 bitcoins, with a net asset value of US$348 million. Among them, the issuer Jiashi Bitcoin held by 357 pieces, while Huaxia dropped to 2,250 pieces.

Hong Kong Ethereum spot ETF has no capital flow, with a net asset value of US$37.35 million.

Source: SoSoValue

Crypto spot ETF Option performance

As of March 14, the nominal total transaction volume of Bitcoin spot ETF options in the United States was US$1.85 billion, and the nominal total long-short ratio was 1.59.

As of March 13, the total nominal holdings of US Bitcoin spot ETF options reached US$10.6 billion, and the total nominal holdings long and short ratio reached 2.12.

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 54.88%.

Source: SoSoValue

A brief overview of the dynamics of encrypted ETFs last week

REX-Osprey has submitted the N-1A form of the MOVE ETF to the US SEC

REX-Osprey has filed a Form N-1A registration statement with the U.S. Securities and Exchange Commission (SEC) to apply for the REX-Osprey MOVE ETF, which will invest in the REX-Osprey MOVE Portfolio SP.

The MOVE subsidiary has entered into a separate investment advisory agreement with the advisor to manage the MOVE subsidiary assets. Under normal market conditions, the fund invests at least 80% of its net assets (plus funds borrowed for investment purposes) in reference assets and other assets that provide reference assets exposure.

Bitwise: The transaction code of its Bitcoin standard company ETF is OWNB

Bitwise announced on social platforms that the transaction code of its Bitcoin standard company ETF is OWNB.

The top ten companies tracked by this ETF are: Strategy (MSTR), MARA Holdings, CleanSpark, Riot Platforms, Boyaa Interactive, Metaplanet, Aker ASA, Bitfarms, BitFuFu, and Galaxy Digital.

CBOE Submits Application to Allow Franklin Ethereum ETF to Pledge

In addition to the Fidelity Ethereum ETF, the Chicago Options Exchange (CBOE) has also submitted a proposed rule change to the U.S. Securities and Exchange Commission (SEC) to allow Franklin Ethereum ETF to enter EZET for pledge.

It is reported that the Chicago Options Exchange currently has cooperative relations with five Ethereum ETF issuers including Fidelity, Franklin Templeton, VanEck and Invesco/Galaxy.

US SEC delays approval of DOGE, XRP, LTC, Solana and ADA spot ETF

The Securities and Exchange Commission (SEC) postponed a number of cryptocurrency spot ETF applications this morning, including Grayscale Cardano (ADA) and DOGE spot ETFs, Canary's XRP, Solana, Litecoin spot ETFs and VanEck Solana spot ETFs.

Market News: CBOE submits Solana ETF application for Franklin

According to market news, CBOE submitted a Solana ETF application for Franklin.

It is reported that Cboe BZX, a subsidiary of the Chicago Options Exchange Group, has submitted a proposed rule change to the U.S. Securities and Exchange Commission (19b-4 application document).

Cboe applies to SEC to allow Invesco Galaxy Bitcoin and Ethereum ETFs to be redeemed in physical

According to Decrypt, the Cboe BZX Exchange has submitted a rule change application to the U.S. Securities and Exchange Commission (SEC), intending to allow Invesco Galaxy spot Bitcoin ETF and Ethereum ETF to be created and redeemed in physical form.

This mechanism allows participants to directly exchange ETF shares with Bitcoin or Ethereum rather than transactions through cash, thereby reducing bid-ask spreads, reducing transaction costs, and avoiding additional brokerage commissions. However, ordinary investors still need to trade ETFs through cash mode.

At present, the SEC has started a public comment period, and relevant stakeholders can submit feedback before the final decision.

21Shares plans to clear two Bitcoin futures and Ethereum futures ETFs around March 28

According to Globenewswire, 21Shares US LLC announced plans to liquidate two Bitcoin futures and Ethereum futures ETFs, namely the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (Cboe BZX: ARKY) and the ARK 21Shares Active On-Chain Bitcoin Strategy ETF (Cboe BZX: ARKC).

Shareholders may sell their funds before the end of the trading day on Thursday, March 27, 2025, and such transactions may be subject to regular brokerage fees. The last trading days of both funds were March 27, 2025. The fund will be liquidated around March 28, 2025. Shareholders who continue to hold fund shares on the fund liquidation date will receive liquidation distributions, whose value is equal to the proportion of their equity in the fund on that day. Shareholders who receive liquidation distributions usually realize capital gains or losses equivalent to the value of their shares’ net assets.

Additionally, 21Shares said the move is based on a routine review of the company's product lineup to ensure it meets market dynamics, customer needs and a mature digital asset landscape. 21Shares and fund investment sub-advisor ARK Invest remain loyal partners and look forward to advancing regulated cryptocurrency products in the U.S. market.

Asset management company REX Financial launches Bitcoin Enterprise Treasury Convertible Bond ETF

According to BusinessInsider, asset management company REX Financial announced the launch of the Bitcoin Corporate Treasury Convertible Bond ETF, which is listed on Nasdaq under BMAX, mainly for retail investors and investment advisers. It is a convertible bond issued by a company that supports the inclusion of Bitcoin into its financial strategy.

VanEck applies to the US SEC to launch Avalanche ETF

According to The block, VanEck has submitted an S-1 application to the SEC and plans to launch the Avalanche ETF.

The filing states: "The investment objective of the trust is to reflect the price performance of the Avalanche network's native token 'AVAX' minus the cost of the trust's operation."

SEC accepts Franklin Templeton SOL spot ETF application

CBOE Submits XRP ETF Application for Franklin

US SEC confirms receipt of Fidelity Ethereum ETF pledge proposal application

US SEC confirms receipt of Franklin Ethereum ETF pledge proposal application

US SEC once again postpones approval of Fidelity Ethereum spot ETF options trading

VanEck has registered Avalanche ETF in Delaware

CBOE submits a pledge proposal to Fidelity Ethereum ETF

Perspectives and analysis on encrypted ETFs

Bloomberg analysts predict the chances of altcoin ETF approval: LTC is 90%, SOL is 70%, XRP is 65%

According to Bitcoinist, the US SEC has delayed its decision to approve applications for trading open-end index funds (ETFs) backed by several altcoins, including XRP, Solana, Litecoin and Dogecoin, as well as a new Ethereum ETF proposal that allows issuers to pledge assets they hold and allocate some of their earnings to investors.

Bloomberg ETF analysts James Seyffart and Eric Balchunas gave the altcoin ETF approval forecast: the Litecoin ETF is 90%, the Solana ETF is 70%, the Dogecoin ETF is 75%, and the XRP ETF is 65%.

The ETF Store President: Predicted BlackRock to apply for SOL and XRP spot ETFs

Nate Geraci, president of The ETF Store, said on social media that "BlackRock will be expected to apply for SOL and XRP spot ETFs. SOL applications may be submitted at any time, and XRP is expected to be conducted after the end of the SEC lawsuit."