Cryptocurrency ETF Weekly Report | Last week, the net inflow for Bitcoin spot ETFs in the United States was $2.167 billion, and YieldMax launched the MARA options income strategy ETF.

Compiled by: Fairy, ChainCatcher

Performance of Crypto Spot ETFs Last Week

US Bitcoin Spot ETF Net Inflow of $2.167 Billion

Last week, the US Bitcoin spot ETF saw a net inflow of $2.167 billion, bringing the total net asset value to $114.97 billion, with an average daily trading volume of $3.67 billion. BlackRock's IBIT was the main contributor, with a net inflow of $1.514 billion, followed by Fidelity's FBTC with a net inflow of $598 million. Only Grayscale's GBTC and Valkyrie's BRRR experienced net outflows.

Bloomberg analyst Eric Balchunas revealed that the asset size of BlackRock's IBIT is equivalent to the total of 50 ETFs focused on Europe (regional + single country), which have been in existence for 20 years.

Source: Farside Investors

US Ethereum Spot ETF Net Inflow of $854 Million

Last week, the US Ethereum spot ETF recorded a net inflow of $854 million, setting a new record for the highest weekly inflow to date, with the total net asset value rising to $13.78 billion and an average daily trading volume of $646 million.

BlackRock's ETHA and Fidelity's FETH were the main contributors, with inflows of $523 million and $258 million, respectively. Meanwhile, three ETFs experienced net outflows, with Grayscale's ETHE seeing a net outflow of $49.3 million.

Source: Farside Investors

Hong Kong Bitcoin Spot ETF Net Outflow of 120.22 Bitcoins

Last week, the Hong Kong Bitcoin spot ETF had a net outflow of 120.22 Bitcoins, with a net asset value of $47 million. The Hong Kong Ethereum spot ETF has shown a trend of inflows for two consecutive weeks, with a net inflow of 464.38 Ethereum, bringing the total holdings to 16,200 Ethereum and a net asset value of $6.333 million.

Data: SoSoValue

Performance of Crypto Spot ETF Options

As of December 13, the nominal total trading volume of US Bitcoin spot ETF options reached $1.56 billion, with a nominal total long-short ratio of 1.35, indicating a bullish sentiment. As of December 12, the nominal total open interest of US Bitcoin spot ETF options reached $8.9 billion, with a nominal total open interest long-short ratio of 2.04.

Additionally, the implied volatility was 63.24%, reflecting a high expectation of market volatility.

Data: SoSoValue

Overview of Crypto ETF Developments Last Week

YieldMax Launches Bitcoin Mining Company MARA-Based Option Income Strategy ETF on NYSE

ETF issuer YieldMax announced the launch of the YieldMax™ MARA Option Income Strategy ETF (NYSE ticker: MARO) on the NYSE, which is based on the Bitcoin mining company MARA. This ETF seeks to generate income through options-based strategies on MARA without directly investing in MARA.

The first distribution is expected to be announced on January 2, 2025. YieldMax has previously launched the Bitcoin options income strategy ETF YBIT and the short Coinbase stock options strategy ETF.

US SEC Seeks Public Opinion on Bitwise Bitcoin and Ethereum ETF Listing on NYSE

The Bitwise Bitcoin and Ethereum ETF is a proposed spot cryptocurrency index fund composed of BTC and ETH, aimed at "providing investors with an accessible way to balance investments in the two largest crypto assets globally." On November 26, Bitwise and the New York Stock Exchange submitted an application to the US Securities and Exchange Commission (SEC) for the ETF listing, and the SEC is now advancing the application to the next stage by seeking industry opinions.

BlackRock's Bitcoin Spot ETF Size Surpasses Its Gold ETF

Data shows that the asset management size of BlackRock's Bitcoin spot ETF (IBIT) has now surpassed that of its gold ETF, with billions of dollars flowing into the Bitcoin market weekly. SmartMoney already knows which is better, with gold's market cap at $17 trillion and Bitcoin's market cap at $2 trillion.

Argentina's Securities Regulator Announces Allowance for Foreign Investment Products Related to Various Crypto ETF Opportunities

Argentina's securities regulator CNV announced a market-wide initiative allowing foreign investment products related to various cryptocurrency ETF opportunities (including Ethereum and Bitcoin, gold, etc.) to enter the market. CNV Chairman Roberto Silva emphasized, "Through these initiatives, we are elevating Argentina to the standards of the most developed international markets."

Views and Analysis on Crypto ETFs

BlackRock Executive: Currently Focused on Bitcoin and Ethereum ETFs, Not Launching New Altcoin ETFs

Bloomberg ETF analyst Eric Balchunas posted on social media that "Jay Jacobs, BlackRock's head of US thematic and active ETFs, stated at the 'ETFs in Depth' conference: 'Our current exploration of Bitcoin, especially Ethereum, is just the tip of the iceberg. Only a small number of clients hold (IBIT and ETHA), so our current focus is on this area, rather than launching new altcoin ETFs.'"

Kaiko: ETH Price Surge Corresponds with Market Interest in ETH ETFs, SEC Leadership Changes May Drive Market Demand

According to data from Kaiko Research, the price of Ethereum (ETH) recently reached an annual high of $4,000. Although it briefly outperformed Bitcoin (BTC) after the US elections, ETH has yet to test its historical high of around $5,000 from 2021.

However, last weekend, ETH's price stabilized around $4,000, indicating it may test a new price range. The price increase of ETH corresponds with a resurgence of market interest in ETH ETFs, which set a record for inflows last week. Institutional investors have shown significant interest in ETH and are optimistic about potential returns in 2025.

Additionally, changes in the leadership of the US Securities and Exchange Commission (SEC) may further drive market demand, with ETH potentially being a significant beneficiary of this change.

Matrixport: Surge in Demand for Ethereum ETFs, Price Expected to Rise Significantly in 2025

Matrixport released a chart today indicating a significant increase in demand for Ethereum ETFs, with a cumulative net inflow of $1.8 billion over the past 12 days and no single day of net outflows. Three days saw single-day inflows exceeding $300 million. Adjusted for market capitalization, this is equivalent to nearly $1.2 billion in daily inflows for Bitcoin.

This capital flow may reflect a reallocation of investment direction or an expansion of scope, coinciding with the new fiscal year that US mutual funds typically start on December 1, and also reflects market optimism for 2025. If this demand continues, Ethereum's price in 2025 may rise significantly.

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