Cryptocurrency ETF Weekly | Last week, the net inflow of Bitcoin spot ETFs in the U.S. was $1.37 billion; the U.S. SEC requires the issuers of the spot Solana ETF to update their S-1 filings
ProShares and Bitwise submitted ETF applications to track Circle stocks.整理：Jerry，ChainCatcher
Last Week's Performance of Crypto Spot ETFs
US Bitcoin Spot ETF Net Inflow of $1.37 Billion
Last week, the US Bitcoin spot ETFs saw a net inflow for five consecutive days, totaling $1.37 billion, with a total net asset value of $130.26 billion.
Last week, 9 ETFs were in a net inflow state, with inflows mainly from IBIT, ARKB, and FBTC, which saw inflows of $1.115 billion, $82.8 million, and $80 million, respectively.
Data Source: Farside Investors
US Ethereum Spot ETF Net Inflow of $533 Million
Last week, the US Ethereum spot ETFs had a net inflow over four days, totaling $533 million, with a total net asset value of $10.03 billion.
The inflow last week mainly came from BlackRock's ETHA, with a net inflow of $380 million. A total of 4 Ethereum spot ETFs had no fund movement.
Data Source: Farside Investors
Hong Kong Bitcoin Spot ETF Net Outflow of 347.31 Bitcoins
Last week, the Hong Kong Bitcoin spot ETFs experienced a net outflow of 347.31 Bitcoins, with a net asset value of $46 million. The holdings of the issuer, Harvest Bitcoin, decreased to 301.64 Bitcoins, while Huaxia's holdings fell to 2,470 Bitcoins.
The Hong Kong Ethereum spot ETFs had no fund movement, with a net asset value of $5.716 million.
Data Source: SoSoValue
Performance of Crypto Spot ETF Options
As of June 13, the nominal total trading volume of US Bitcoin spot ETF options was $1.71 billion, with a nominal total long-short ratio of 1.67.
As of June 12, the nominal total open interest of US Bitcoin spot ETF options reached $19.4 billion, with a nominal total long-short ratio of 1.84.
The market's short-term trading activity for Bitcoin spot ETF options has increased, with overall sentiment leaning bullish.
Additionally, the implied volatility is at 46.52%.
Data Source: SoSoValue
Overview of Last Week's Crypto ETF Developments
Multiple SOL ETF Potential Issuers Submitted Updated S-1 Filings
According to The Block, multiple companies submitted updated S-1 filings on Friday for listing spot Solana exchange-traded funds. Some experts indicate that this move suggests the US Securities and Exchange Commission (SEC) is closer to approving these products.
According to a series of regulatory documents, investment firms Franklin Templeton, Galaxy Digital, and VanEck submitted updated S-1 filings, which are registration statements required for ETF approval for public trading by the SEC. Fidelity also submitted its Solana fund S-1 filing on Friday, with an insider stating, "This is Fidelity's first submission of an S-1 filing for a Solana ETP."
Invesco Galaxy Solana ETF Registered in Delaware
According to information from the Delaware Division of Corporations, the Invesco Galaxy Solana ETF was officially registered in Delaware on June 12, 2025, as a Statutory Trust, with its registered address at 251 Little Falls Drive, Wilmington, and CSC Delaware Trust Company serving as the registered agent.
Nasdaq Submitted Application to SEC for Listing 21Shares SUI ETF
Nasdaq has submitted an application to the US Securities and Exchange Commission (SEC) for the listing of the 21Shares SUI ETF, a spot trading fund based on the SUI token. The 19b-4 filing has now been officially released to the SEC's public registration system, marking the formal start of the review process.
This application follows the S-1 registration documents submitted by 21Shares in April, reflecting a growing institutional embrace of the Sui ecosystem. The two documents together advance the process for the SUI ETF to enter the US market. If listed in the US, it will further broaden investors' accessibility to this innovative Layer 1 ecosystem known for its outstanding performance and practicality. 21Shares has already launched the Sui ETP on the Euronext exchanges in Paris and Amsterdam, with significant inflows this year.
In addition to 21Shares, Sui's technology has attracted institutions including Canary Capital, Ant Group, Franklin Templeton, VanEck, and Grayscale, which have gradually launched investment products or related plans on Sui since the fourth quarter of last year.
According to Blockworks citing insiders, the SEC has requested that issuers planning to launch a spot Solana ETF update their S-1 prospectus, suggesting that relevant approvals may be imminent. While the specific approval timeline is unclear, Bloomberg's senior ETF analyst Eric Balchunas expects approvals within two to four months.
In an interview with The Block, he stated that spot funds for Solana, XRP, and others are likely to be approved in the near future, with an approval deadline potentially in October, and a spot ETF combination including Solana, XRP, Ethereum, and Bitcoin possibly emerging in July. Issuers are rushing to launch spot ETFs to gain a first-mover advantage. Balchunas also mentioned that a large number of spot products will emerge in the next four months, but they will be relatively small, with Solana and XRP reaching a scale of $1 billion being a good outcome.
SEC Initiates Review of Bitwise Bitcoin and Ethereum Hybrid ETF Listing Application
According to official documents, the SEC announced today that it has initiated the process to review the Bitwise Bitcoin and Ethereum hybrid ETF listing application submitted to the NYSE Arca exchange.
This ETF plans to hold both Bitcoin and Ethereum, with asset allocation based on the relative market values of the two cryptocurrencies (currently approximately 83% Bitcoin and 17% Ethereum). The ETF will determine its daily net asset value by referencing the CME CF Bitcoin and Ethereum pricing benchmarks and will allow authorized participants to create and redeem shares in cash in units of 10,000 shares.
Canary Capital Establishes Delaware Trust Fund to Bet on Injective ETF
According to Cointelegraph, fund manager Canary Capital has established a trust fund in Delaware named "Canary Staked INJ ETF," aimed at launching a fund based on staking Injective tokens. This move is the first step toward launching the ETF, typically done before submitting further documents to the SEC. Injective's native token INJ rose 3.7% in the past 24 hours, indicating a positive market reaction to the news.
According to The Block, Bloomberg ETF analyst Eric Balchunas stated that BlackRock's Bitcoin ETF ------ IBIT fund (the largest in its category) surpassed $70 billion in assets in just 341 trading days, becoming the fastest ETF to reach this milestone, achieving this at five times the speed of the previous record holder GLD (1,691 days). GLD refers to the SPDR Gold Trust, which was listed on the NYSE in November 2004 and is the world's largest physically-backed gold ETF, managing approximately $100 billion in assets.
BlackRock launched its spot Bitcoin ETF in January 2024. According to Arkham Intelligence data, in April this year, BlackRock's fund held 2.8% of the total Bitcoin supply. The asset management company holds Bitcoin on behalf of its clients but does not own the cryptocurrency itself.
ProShares and Bitwise Submit ETF Applications Tracking Circle Stock
Bloomberg senior ETF analyst Eric Balchunas disclosed on the X platform that ProShares and Bitwise have submitted ETF applications tracking Circle stock, namely: ProShares Ultra CRCL ETF and Bitwise CRCL Option Income Strategy ETF.
The trading codes are currently pending, with an expected effective date of August 20.
US SEC Delays Decision on Canary Hedera ETF Application
Market News: US SEC Delays Decision on VanEck Spot Avalanche ETF
Market News: US SEC Delays Decision on Grayscale HEDERA Spot ETF
COINSHARES SOLANA ETF Registered in Delaware
CANARY STAKED INJ ETF and CANARY MARINADE SOLANA ETF Registered in Delaware
Views and Analysis on Crypto ETFs
Bloomberg Analyst: This Summer May Welcome Altcoin ETF Summer, with Solana Expected to Lead
According to Bloomberg senior ETF analyst Eric Balchunas, this summer may see the arrival of an Altcoin ETF Summer, with Solana expected to take the lead, along with some combination products.
Bloomberg Analyst: Litecoin and Solana Spot ETF Approval Chances as High as 90%
Bloomberg ETF analysts updated the latest approval chances for cryptocurrency spot ETFs, with basket/index funds, Litecoin, and Solana leading the way, with approval chances as high as 90%.
