Crypto ETF Weekly Report | Last week, US Bitcoin spot ETFs had net inflows of US$196 million; three Bitcoin ETFs of asset management company Calamos have raised more than US$100 million
Reprinted from chaincatcher
03/31/2025·1MCompiled by: Jerry, ChainCatcher
Crypto spot ETF performance last week
US Bitcoin spot ETF net inflow of US$196 million
Last week, US Bitcoin spot ETF net inflows for four days, with a total net inflow of 1.96 $94.39 billion, with a total net asset value of $94.39 billion.
Last week, three ETFs were in a net inflow, mainly from IBIT, FBTC, and HODL, with inflows of US$172 million, US$86.8 million and US$5 million respectively.
Source: Farside Investors
US Ethereum spot ETF net outflow of US$8.4 million
Last week, U.S. Ethereum spot ETFs experienced net outflows in three days, with a total net outflow of US$8.4 million and a total net asset value of US$6.42 billion.
The outflow last week was mainly from Grayscale ETH, with a net outflow of $6.7 million. There are 4 Ethereum spot ETFs with no capital flow.
Source: Farside Investors
Hong Kong Bitcoin Spot ETF Net Outflow 12.67 Bitcoins
Last week, Hong Kong Bitcoin spot ETFs had a net outflow of 12.67 bitcoins, with a net asset value of US$362 million. Among them, the issuer Jiashi Bitcoin held by 357 pieces, while Huaxia dropped to 2,240 pieces.
Hong Kong Ethereum spot ETF has no current and its net asset value is US$38.08 million.
Source: SoSoValue
Crypto spot ETF Option performance
As of March 28, the nominal total transaction volume of US Bitcoin spot ETF options was US$797 million, and the nominal total transaction ratio was 0.91.
As of March 27, the total nominal holdings of US Bitcoin spot ETF options reached US$9.12 billion, and the total nominal holdings reached 2.40.
The market's short-term trading activity of Bitcoin spot ETF options has increased, and overall sentiment is biased towards bearish.
In addition, the implied volatility is 50.94%.
Source: SoSoValue
A brief overview of the dynamics of encrypted ETFs last week
BlackRock has launched Bitcoin ETFs in European markets: IB1T GY and IB1T FP
BlackRock has launched its Bitcoin ETF in the European market, with the specific information as follows:
iShares Bitcoin ETP
Codes: IB1T GY (German Xetra Exchange) and IB1T FP (European Exchange)
Fee: 0.25%, reduced to 0.15% by December 31, 2025
Registration place: Switzerland
ISIN: XS2940466316
In response, Bloomberg senior ETF analyst Eric Balchunas commented that BlackRock brought its high-profile IBIT to Europe. Liquidity + low fees + brand effect = strong attraction anywhere, although Europe is mostly immune to "hot sauce" ETFs. It would be interesting to see how it performed. Focus on this area.
Cboe BZX Exchange has submitted an application to the US SEC and plans to list Fidelity Solana ETF
According to the U.S. Securities and Exchange Commission (SEC) filing, Cboe BZX Exchange has filed a Form 19b-4 application to the SEC, proposing to list and trade shares in the Fidelity Solana ETF under BZX Rule 14.11.
According to CoinDesk, Calamos Investments, which manages more than $41.3 billion in assets, said it will continue to focus on its three Bitcoin-protected ETFs, raising more than $100 million in funding. The company believes that Ethereum lacks sufficient liquidity and hedging tools and does not yet have the conditions to develop relevant products. It also clearly excludes the possibility of getting involved in Meme currency ETFs.
Canary Capital CEO Steven McClurg said the company's recently filed "innovative" crypto exchange-traded fund (ETF) application is a well-thought-out strategy to lay out assets with potential and unmet market demand.
"If you are a large organization like BlackRock, you can take risks. And small and medium-sized companies like us don't act at will unless we really feel successful. We are very cautious about time and funding to make sure all decisions are feasible," said Steven McClurg. And he believes many proposals may be approved next year.
Nasdaq submits Form 19b-4 of Avalanche ETF to US SEC
Perspectives and analysis on encrypted ETFs
According to Bloomberg, U.S. exchange-traded funds that invest directly in ETH suffered the longest outflow record since their launch in July 2024. Nine ETFs have been net outflows for 13 consecutive days, with a total outflow of approximately US$415 million.
By contrast, the U.S. Bitcoin ETF has rebounded from a period of weakening investor demand, achieving net inflows for six consecutive days as of March 21.
Standard Chartered cut its year-end price target of ETH by 60% to $4,000 in a report last week, citing concerns about Ethereum’s scalability.
In a report, the bank said Ethereum was “largely commodified within its own L2 framework”, which created doubts about its long-term competitive advantage.
At the Exchange conference in Las Vegas, Todd Rosenbluth, head of research at TMX VettaFi, and Cinthia Murphy, senior investment strategist, shared a survey of U.S. financial advisers that cryptocurrency exchange-traded funds (ETFs) are receiving widespread attention, with 57% of consultants planning to increase investment allocations in crypto ETFs this year, and only 1% said they would reduce allocations.
"Last year, investing in cryptocurrencies could be seen as a reputational risk, and today, no advisor can do anything basic about cryptocurrencies," Murphy noted.
The survey shows that consultants are particularly favouring crypto stock ETFs, which invest in listed companies directly associated with the crypto industry, such as Strategy (formerly MicroStrategy) or Tesla. "Crypto Stock ETFs are easier to understand and easier to get started," Murphy said. "It may explain its popularity."
In addition, spot crypto ETFs and multi-token funds are also attracting more and more interest. 22% of respondents plan to allocate funds to spot crypto ETFs, such as spot Bitcoin (BTC) or spot Ethereum (ETH) ETFs; another 19% showed interest in crypto asset funds holding multiple tokens.
President of The ETF Store: The end of the Ripple case means the XRP ETF is about to be approved
Nate Geraci, president of The ETF Store, said on social media that the end of the Ripple case means that the approval of the spot XRP ETF is obviously only a matter of time. BlackRock, Fidelity and others are expected to participate.
XRP is currently the third largest non-stable coin crypto asset by market capitalization. The largest ETF issuers won't ignore this.
Previous news , Ripple agreed to waive cross-appeal, and the US SEC will retain $50 million of the $125 million fine.
According to The Block, Bloomberg analyst James Seyffart said the XRP ETF may be launched in the next few months and is likely to see the XRP futures ETF first, with the chances of the XRP ETF being approved in 2025 rising due to the US SEC's decision to revoke the Ripple lawsuit.
Ripple CEO Brad Garlinghouse revealed in an interview with Bloomberg TV that the XRP ETF may be launched in the second half of 2025, and there are currently about 11 XRP ETF issuance applications for different companies awaiting approval from the Securities and Exchange Commission. ”
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