Crypto ETF Weekly | Last week, the net inflow for Bitcoin spot ETFs in the U.S. was $2.75 billion; the SEC delayed the review of XRP and LTC ETF applications
Volatility Shares launches the first XRP futures ETF on Nasdaq.Organizer: Jerry, ChainCatcher
Performance of Cryptocurrency Spot ETFs Last Week
U.S. Bitcoin Spot ETF Net Inflow of $2.75 Billion
Last week, the U.S. Bitcoin spot ETF saw a net inflow for five consecutive days, totaling $2.75 billion, with a total net asset value of $131.39 billion.
Last week, 6 ETFs were in a net inflow state, with inflows mainly from IBIT, FBTC, and ARKB, which saw inflows of $2.432 billion, $209 million, and $101 million, respectively.
Data Source: Farside Investors
U.S. Ethereum Spot ETF Net Inflow of $248 Million
Last week, the U.S. Ethereum spot ETF experienced a net inflow for five consecutive days, totaling $248 million, with a total net asset value of $9.12 billion.
The inflow last week mainly came from BlackRock's ETHA, with a net inflow of $136 million. A total of 4 Ethereum spot ETFs had no capital movement.
Data Source: Farside Investors
Hong Kong Bitcoin Spot ETF Net Inflow of 203.78 Bitcoins
Last week, the Hong Kong Bitcoin spot ETF had a net inflow of 203.78 Bitcoins, with a net asset value of $48.7 million. The issuer, Harvest Bitcoin, saw its holdings decrease to 301.93 Bitcoins, while Huaxia increased to 2460 Bitcoins.
The Hong Kong Ethereum spot ETF had no capital inflow, with a net asset value of $5.947 million.
Data Source: SoSoValue
Performance of Cryptocurrency Spot ETF Options
As of May 23, the nominal total trading volume of U.S. Bitcoin spot ETF options was $1.43 billion, with a nominal total long-short ratio of 2.46.
As of May 22, the nominal total open interest of U.S. Bitcoin spot ETF options reached $15.8 billion, with a nominal total long-short ratio of 2.29.
The market's short-term trading activity for Bitcoin spot ETF options has increased, with overall sentiment leaning bullish.
Additionally, the implied volatility was 52.37%.
Data Source: SoSoValue
Overview of Cryptocurrency ETF Developments Last Week
According to Cointelegraph, governments, national pension funds, and sovereign wealth funds are increasing their investments in Bitcoin ETFs. This trend is primarily driven by de-dollarization, changes in the energy market, and increased institutional confidence.
Bloomberg analyst James Seyffart stated, "As expected, several cryptocurrency ETFs faced another delay in review by the U.S. SEC today, including the XRP ETF from Bitwise and CoinShares; the Litecoin ETF filing; and Fidelity's physical Bitcoin ETF. However, the SEC officially accepted the TRX staking ETF application submitted by Canary Capital."
Volatility Shares to Launch First XRP Futures ETF on Nasdaq
According to DL News, Volatility Shares will launch the first XRP futures ETF (XRPI) on Nasdaq today, with the product investing at least 80% of its net assets in XRP-related financial instruments. The company also plans to launch a 2x leveraged XRP futures ETF product.
Previously, the Chicago Mercantile Exchange (CME) launched XRP futures and micro XRP futures contracts on May 19, providing institutional investors with a regulated channel to access XRP.
Analysts expect that under the more favorable regulatory attitude of new SEC Chairman Paul Atkins, the spot XRP ETF is likely to be approved later this year, with market expectations at 83%.
Canary Digital Updates Solana ETF Application Documents, Modifies Product Name
Bloomberg senior ETF analyst Eric Balchunas revealed that Canary Digital submitted a post-effective amendment to the U.S. Securities and Exchange Commission (SEC) to update its Solana ETF application documents.
This update changes the product name to "Canary Marinade Solana ETF," adding the word "Marinade" to the original name. The document was submitted under the Securities Act of 1933 and is the first post-effective amendment for this product.
SEC Delays Decision on XRP and Dogecoin ETF
According to The Block, the U.S. Securities and Exchange Commission (SEC) announced on May 20 that it would delay its decision on the ETF proposals for the XRP trust fund submitted by 21Shares and Grayscale, as well as the Grayscale Dogecoin trust fund ETF proposal. The SEC stated in the document that this move is based on legal and policy issues involved in these proposals and emphasized that it does not represent a conclusion on the related issues. The SEC also delayed its decision on Bitwise's proposal to allow staking for the Ethereum ETF.
Bloomberg Intelligence ETF analyst James Seyffart pointed out that regardless of who leads the SEC, institutions typically use the full approval time, and approval may be seen as early as the end of June or early July, but is more likely to occur in early Q4.
U.S. SEC Acknowledges Physical Redemption for BlackRock's Spot Ethereum ETF
Views and Analysis on Cryptocurrency ETFs
Bloomberg Analyst: Vanguard May Open Bitcoin ETF Trading in the Next 1-2 Years
Bloomberg senior ETF analyst Eric Balchunas stated on social media that Vanguard may never launch a Bitcoin ETF product, but it may relax restrictions in the next one to two years to allow Bitcoin ETF trading on its platform.
He noted that if Bitcoin prices reach $150,000 to $200,000, facing continuous inquiries from clients, and their new CEO has ties to BlackRock, this change could happen.
Robert Kiyosaki, author of "Rich Dad Poor Dad," stated on platform X that Wall Street united to rescue the hedge fund LTCM in 1998, and central banks saved Wall Street in 2008. Each crisis becomes larger, with issues starting in 1971 when Nixon ended the gold standard for the dollar. The next crisis may be triggered by $1.6 trillion in student loan debt collapse. For most people, the best way to protect themselves is through self-rescue, so saving physical gold, silver, and Bitcoin is preferable to buying ETFs.
President of The ETF Store: Launch of Ethereum ETF is a Regulatory Last Resort
According to Nate Geraci, president of The ETF Store, he stated on X, "A year ago, the SEC 'unexpectedly' approved the spot Ethereum ETF, and I maintained my initial view: because Grayscale won its lawsuit against the SEC, the regulators had no choice. I hope to understand the full story one day. Since then, although the regulatory environment has changed significantly, no other spot cryptocurrency ETFs have been formally approved so far."
According to Cointelegraph, ARK Invest CEO Cathie Wood stated that regardless of how high the adoption rate of cryptocurrency wallets is in the next decade, cryptocurrency exchange-traded funds (ETFs) may maintain their position in the economy.
Cathie Wood stated at the Solana Accelerate event in New York on May 23, "I think ETFs are an important stepping stone because, you know, wallets seem very complicated, and there is a lot of friction for consumers; they just want to press a button." "So I think for those seeking convenience, ETFs won't lose much appeal."
