Crypto ETF Weekly Report | There was a net outflow of US$377 million from U.S. Bitcoin spot ETFs last week, and 5 institutions submitted applications for crypto ETFs

Organized by: Fairy, ChainCatcher

Crypto spot ETF performance last week

U.S. Bitcoin spot ETF saw net outflows of $377 million

Last week, the U.S. Bitcoin spot ETF had a net outflow of US$377 million, with a total net asset value of US$106.6 billion, and an average single-day trading volume of US$2.7 billion. The outflow mainly came from Fidelity FBTC, with a net outflow of US$183 million.

The U.S. Bitcoin spot ETF has been online for 50 weeks, and BlackRock IBIT's holdings have increased from 2,621 in the first week to 552,555, completely absorbing the selling pressure of Grayscale GBTC. In addition, the net inflow of Bitcoin ETF in 2024 is 81 times that of gold ETF.

All 6 ETFs are in a state of net outflows, and the following four ETFs have more net outflows:

• BlackRock IBIT had a net outflow of US$21.1 million, with a net asset value of US$52.15 billion;
• Bitwise’s BITB had a net outflow of US$59.5 million, with a net asset value of US$3.82 billion;
• Invesco BTCO had a net outflow of US$39.8 million, with a net asset value of US$735 million;
• Grayscale GBTC had a net outflow of US$58.9 million , with a net asset value of US$19.54 billion.

Source: Farside Investors

U.S. Ethereum spot ETF saw net inflow of $ 349 million

The U.S. Ethereum spot ETF has had net inflows for five consecutive weeks. Last week, net inflows were US$349 million. Total net asset value increased to US$12.11 billion, and the average single-day trading volume reached US$367 million.

BlackRock ETHA and Fidelity FETH were the main net inflows, with inflows of US$181 million and US$160 million respectively. In addition, five ETFs experienced no capital flows.

Note: The U.S. stock market is closed on Christmas Day, December 25, so there is no data on that day.

Source: Farside Investors

Hong Kong Bitcoin Spot ETF had a net outflow of 368.65 Bitcoins

The Hong Kong Bitcoin Spot ETF experienced capital outflows for the fourth consecutive week. Last week, there was a net outflow of 368.65 Bitcoins, setting a new single-day outflow since July 30, with a net asset value of US$409 million.

Last week, there was no capital flow in the Hong Kong Ethereum spot ETF, with a net asset value of US$63.41 million.

Note: Hong Kong will be closed on December 25th and 26th due to Christmas.

Data:SoSoValue

Crypto Spot ETF Options Performance

As of December 27, the total nominal trading volume of U.S. Bitcoin spot ETF options was US$411 million, and the total nominal trading long-short ratio was 2.93. As of December 26, the total nominal positions of U.S. Bitcoin spot ETF options reached $8.29 billion, and the long-short ratio of total nominal positions reached 1.88, further demonstrating the dominance of the bull market.

In addition, the implied volatility rate is 63.22%, reflecting that market expected volatility is still high.

Data:SoSoValue

A look at last week’s crypto ETF news

5 institutions applied for crypto ETFs last week

Nate Geraci, President of The ETF Store, disclosed that 5 institutions have applied for crypto ETFs, namely:

• Strive Bitcoin Bond ETF;
• Bitwise Bitcoin Standard Corporations ETF (Bitcoin Standard Corporations ETF);
• REX BTC Corporate Treasury Convertible Bond ETF;
• VolatilityShares exchange-traded open-end index fund (ETF) based on Solana futures, covering 1x, 2x and -1x leveraged exposure;
• ProShares applied to launch Bitcoin-hedged ETFs based on the S&P 500 Index, Nasdaq 100 Index and gold.

Opinion and Analysis on Crypto ETFs

[Analysis: Ethereum spot ETF’s net inflows hit a new high this month,

which may lay the foundation for a rebound next year](https://www.chaincatcher.com/article/2159618)

The U.S. Ethereum spot ETF’s cumulative net inflows in December reached a new high of more than $2.1 billion, almost double the inflows in November. The growth in ETF inflows is a bullish sign for Ethereum price action, further supporting predictions from asset management giant VanEck, which predicts Ethereum will reach a cycle top of $6,000 by 2025.

According to technical chart patterns, crypto analyst TMV said that Ethereum has entered an accumulation wave, which may help the ETH price break through $4,400 in the first quarter of 2025, but if it pulls back below $2,914, this theory will be invalid.

A spokesperson for Bybit said that the price of Ethereum may rise above $4,000 before President-elect Trump takes office on January 20.

[Author of "Rich Dad Poor Dad": Doesn't trust BlackRock ETF, prefers to

keep Bitcoin in his own wallet](https://www.chaincatcher.com/article/2159542)

Robert Kiyosaki, author of "Rich Dad Poor Dad," posted on social platform Bitcoin in .

BlackRock is driving down the price of Bitcoin so that big investors can buy Bitcoin under $100,000.

I will continue to buy more Bitcoin because Bitcoin will continue to rise. I predict that Bitcoin will reach $350,000 in 2025. "

[Citi: Cryptocurrencies will surge in 2025, driven by Trump policies and

ETF inflows](https://www.chaincatcher.com/article/2159387)

Citibank analysts predict strong growth for cryptocurrencies in 2025, driven by Trump’s policies, increased ETF inflows, and stablecoin innovation. Bitcoin's breakout above $100,000 may be just the beginning.

Citi analysts expect a shift in regulation, explaining that this is less a story of deregulation and more of a story of removing resistance, meaning that policies are likely to reduce barriers that previously hindered growth rather than deregulate. Widespread adoption remains key to cryptocurrency’s long-term success.

[CryptoQuant: Bitcoin hoarding addresses increased their holdings by

225,000 in December, and the total amount of BTC available for sale by exchanges and ETFs decreased by approximately 590,000.](https://www.chaincatcher.com/article/2159220)

The latest report from the on-chain data analysis platform CryptoQuant shows that as of December 23, Bitcoin hoarding addresses had a net increase of 225,280 BTC this month, a month-on-month increase of 82.6%. During the same period, total seller liquidity (the number of Bitcoins available for sale on exchanges and ETFs) decreased by approximately 590,000 coins, with a sharp decline of 520,000 coins between December 22 and 23.

Over-the-counter (OTC) supply dropped from 421,000 coins to 403,000 coins, and the liquid inventory ratio dropped from 12 months to 5.5 months. It is worth noting that whale addresses holding more than 1,000 BTC have reduced their holdings by nearly 8,600 BTC this month, but short-term holders' holdings have reached 3.81 million, which is only 70,000 short of the historical peak.

[Matrixport: Ethereum ETF funds have continued to flow in recently, and

opportunities for re-entry may come soon](https://www.chaincatcher.com/article/2159120)

Matrixport released a daily chart saying that Ethereum, like Bitcoin, tends to lose momentum when its price rises sharply, especially when the price rises by more than 60% in 30 days. Judging from historical data, this is usually a profit opportunity. Prices have now pulled back to where they were a month ago, which could mean a re-entry opportunity is brewing, especially if the cryptocurrency bull market is expected to continue into 2025.

It is worth noting that Ethereum has not exhibited the higher beta characteristics of the previous bull market in this rally. However, it remains a favored asset among investors. The recent continuous inflow of ETF funds is the best proof. This strong demand not only highlights Ethereum’s importance, but also shows that it continues to attract attention even if it performs slightly below expectations this cycle.

[OSL executive: Hong Kong cryptocurrency spot ETF will achieve

“substantial growth” in 2025](https://www.chaincatcher.com/article/2158999)

Ryan Miller, managing director of OSL, said he expects “substantial growth” in trading volume and inflows into Hong Kong cryptocurrency ETFs.

It said that because of the positive global and local sentiment, the activities of these funds will be more active. The new US administration’s favorable stance towards the crypto industry, coupled with interest rate cuts, has had a positive impact on global sentiment and cryptocurrency prices. The Hong Kong government has also continued its push for crypto-friendly regulation, launching initiatives such as exempting hedge funds and private equity firms from tax on crypto investment gains. As a result, the Hong Kong cryptocurrency ETF will see “substantial growth” in trading volume and inflows.

[CF Benchmarks: It is expected that the allocation ratio of investment

advisors to BTC and ETH ETFs will exceed 50% in 2025](https://www.chaincatcher.com/article/2158827)

Investment advisors may overtake hedge funds as the largest holders of U.S.-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) next year, CF Benchmarks said. The company predicts that investment advisors’ share of the BTC and ETH ETF market will exceed 50% in 2025.

CF Benchmarks said in its annual report: "We expect investment adviser allocations to these two assets to exceed 50% as the $88 trillion U.S. wealth management industry begins to embrace these vehicles, with net flows exceeding the 2024 record. record $40 billion.”

[Bloomberg Analyst: Issuer may wait until Paul Atkins/Trump officially

takes power before applying for Dogecoin ETF](https://www.chaincatcher.com/article/2158646)

Regarding “The president of The ETF Store said it is shocking that ETF issuers have not yet applied for the Dogecoin ETF”, Bloomberg ETF analyst Eric Balchunas agreed, adding: “I originally thought we would see issuers submitting applications before Christmas. . Now it seems that it may have to wait until Atkins (new SEC Chairman Paul Atkins)/Trump officially takes power.”