Cryptocurrency ETF Weekly Report | Last week, the net inflow for Bitcoin spot ETFs in the U.S. was $286 million; the net inflow for Ethereum spot ETFs in the U.S. was $209 million
Bitwise's top ten cryptocurrency index fund officially trades on NYSE Arca in the form of an ETF.Organizer: Jerry, ChainCatcher
Performance of Crypto Spot ETFs Last Week
US Bitcoin Spot ETF Net Inflow of $286 Million
Last week, the US Bitcoin spot ETF had a net inflow of $286 million over three days, bringing the total net assets to $11.827 billion.
Six ETFs experienced net outflows last week, with inflows mainly coming from IBIT, FBTC, and BITB, which saw inflows of $214 million, $84.5 million, and $24.6 million, respectively.
Data Source: Farside Investors
US Ethereum Spot ETF Net Inflow of $209 Million
Last week, the US Ethereum spot ETF had a net inflow of $209 million over three days, bringing the total net assets to $19.42 billion.
The inflow last week mainly came from BlackRock's ETHA, with a net inflow of $138 million. All six Ethereum spot ETFs experienced net inflows.
Data Source: Farside Investors
Hong Kong Bitcoin Spot ETF Net Inflow of 46.59 BTC
Last week, the Hong Kong Bitcoin spot ETF had a net inflow of 46.59 BTC, with net assets reaching $35.4 million. The issuer, Harvest Bitcoin, saw its holdings decrease to 291.37 BTC, while Huaxia increased to 2390 BTC.
The Hong Kong Ethereum spot ETF had no inflows, with net assets at $10.5 million.
Data Source: SoSoValue
Performance of Crypto Spot ETF Options
As of December 12, the nominal total trading volume of US Bitcoin spot ETF options was $2.02 billion, with a total long-short ratio of 1.62.
As of December 11, the nominal total open interest of US Bitcoin spot ETF options reached $33.89 billion, with a total long-short ratio of 1.83.
The market's short-term trading activity for Bitcoin spot ETF options has increased, with overall sentiment leaning bullish.
Additionally, the implied volatility was 45.98%.
Data Source: SoSoValue
Overview of Crypto ETF Dynamics Last Week
Glassnode analyzed that the holdings of major Bitcoin holders are as follows: Public companies: approximately 1.07 million BTC, government agencies: approximately 620,000 BTC, US spot ETFs: approximately 1.31 million BTC, exchanges: approximately 2.94 million BTC. These institutions collectively hold about 5.94 million BTC, accounting for about 29.8% of the circulating supply, highlighting the trend of increasing liquidity concentration among institutions and custodians.
VanEck to Launch Degen Economy ETF, Focusing on Digital Gaming and Prediction Markets
According to Bloomberg analyst Eric Balchunas, VanEck will launch the Degen Economy ETF, focusing on digital gaming and prediction markets. This ETF is a spin-off from a previous gaming ETF that was forced to adjust due to poor performance. Eric Balchunas pointed out that this represents the growing "gambler" demographic in the economic sector.
CBOE Approves Listing and Registration of 21Shares XRP ETF
According to Cointelegraph, the Chicago Board Options Exchange (CBOE) has approved the listing and registration of the 21Shares XRP ETF.
Invesco Submits Form 8-A for Its Solana ETF to the SEC
Global asset management giant Invesco has submitted Form 8-A for its Invesco Galaxy Solana ETF to the US Securities and Exchange Commission (SEC), a step typically taken before the official launch of a product.
After submitting such documents, trading usually begins the next day.
US Company Nicholas Financial Plans to Launch Bitcoin ETF, Holding BTC Only During US Market Hours
According to CoinDesk, boutique wealth management firm Nicholas Financial Corporation has applied to the SEC to launch a Bitcoin ETF that holds Bitcoin assets only during nighttime, completely avoiding US trading hours. This fund, named Nicholas Bitcoin and Treasuries AfterDark ETF (ticker NGTH), will buy Bitcoin at 4 PM Eastern Time (when US markets close) and sell it the next day at 9:30 AM Eastern Time (before the market reopens).
During the daytime, the fund will invest in short-term US Treasury bonds to preserve value and generate returns. The company has also submitted application documents for a second product, the Nicholas Bitcoin Tail ETF (ticker BHGD). If approved, this ETF will add novelty to the growing ecosystem of Bitcoin investment products by using the timing of the day as a key factor in its strategy.
Bitwise's Top 10 Crypto Index Fund Officially Listed on NYSE Arca as an ETF
Market news indicates that Bitwise's "10 Crypto Index Fund" has officially launched on NYSE Arca as an ETF, after delays due to SEC review.
This ETF covers the top ten mainstream crypto assets, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), Cardano (ADA), Chainlink (LINK), Litecoin (LTC), Sui (SUI), Avalanche (AVA), and Polkadot (DOT).
BlackRock Submits Application for iShares Staked Ethereum Trust ETF
Bloomberg analyst Eric Balchunas posted on social media that BlackRock has submitted a formal prospectus (Form S-1) for the iShares Staked Ethereum Trust ETF to the SEC, which will become its fourth crypto-related ETF product.
Previously, BlackRock had applied for spot Bitcoin, spot Ethereum, and "Bitcoin Yield" ETFs.
Views and Analysis on Crypto ETFs
Glassnode analyzed on the X platform that the Ethereum spot ETF has begun to show signs of recovery after several weeks of continuous outflows.
Mild inflows have started to appear, indicating that redemption pressure has eased. If it can continue to rise into the net inflow range, it suggests that demand will improve before the end of the year.
Ripple CEO: Total AUM of XRP Spot ETFs in the Market Has Exceeded $1 Billion
Ripple CEO Brad Garlinghouse stated on the X platform that the total AUM of listed XRP spot ETFs has surpassed $1 billion in less than four weeks, making XRP the fastest cryptocurrency to reach this milestone since the launch of the ETH spot ETF. In 2025, over 40 crypto ETFs were launched in the US, indicating a huge demand for regulated crypto products. With Vanguard opening cryptocurrency trading channels for traditional retirement/trading accounts, millions of ordinary users without technical expertise can now access cryptocurrencies, making stability and community crucial yet undervalued themes for new "off-chain" cryptocurrency holders.
Grayscale CEO: Two Ethereum ETFs Have Generated Approximately $11.8 Million in ETH Staking Rewards
Grayscale CEO Peter Mintzberg stated on the X platform that since the Grayscale Ethereum Trust (ETHE) and Ethereum Mini Trust (ETH) began supporting staking rewards, they have generated approximately $11.8 million in ETH staking rewards for investors in less than sixty days, making them the best-performing ETFs in the US ETF market to date.
Bloomberg Analyst: A Total of 124 Crypto Asset ETFs Are Currently in Registration in the US Market
Bloomberg senior ETF analyst Eric Balchunas posted a graphic on the X platform showing that as of the end of 2025, there are a total of 124 crypto-related ETP (exchange-traded products) registration applications in the US market, including: Bitcoin-related products account for the highest proportion, with 21 items (of which 18 are based on the 1940 Act derivative structure). The next highest are basket products (15 items), followed by XRP (10 items), Solana (9 items), and Ethereum (7 items). Currently, 42 items are spot applications under the 1933 Act, while the rest are derivatives or structured funds.
Solana Foundation Chair Lily Liu stated at the Solana Breakpoint 2025 conference: "Solana is the first blockchain platform to establish a policy research institute.
Now, it is imperative for every institution to formulate a digital asset strategy. As these institutions enter the blockchain space, they are choosing Solana. Western Union processes over $60 billion in remittances annually and has chosen Solana. Pfizer processes $20 trillion in merchant payments annually and has also chosen Solana. Other institutions are following suit.
Of course, ETFs are a major theme this year. We have finally welcomed the physically-backed Solana staking ETF------they made a significant entry into the Solana ecosystem about six weeks ago, and in just six weeks, the AUM has approached $1 billion. Despite the overall poor market performance, we have seen continuous net inflows for three weeks. Six physically-backed Solana staking ETFs have already been listed in the US market.
Another important theme this year, though somewhat controversial------is DAT (Digital Asset Treasury Company). Many view DAT as a short-term liquidity tool, but we hold the opposite view. Because Solana is one of the few platforms that allows companies to build at both the infrastructure and asset levels. We believe DAT will be a long-term ecosystem company, serving as a bridge to connect Solana with public markets, building infrastructure and asset management systems, and integrating all these functions."
According to Yahoo News, Japan's Financial Services Agency has revised its Q&A to clarify that providing CFDs (Contracts for Difference) linked to overseas crypto asset ETFs is not ideal domestically, as Japan has not yet approved crypto ETFs, and the investor protection environment is insufficient.
The agency pointed out that such products are essentially linked to the prices of spot crypto assets and fall under the category of crypto derivatives, with inadequate risk disclosure and institutional development. As a result, IG Securities has announced the cessation of CFD trading based on US spot Bitcoin ETFs (such as IBIT, etc.). Regulatory directions indicate that it will be difficult for Japan to relax regulations on overseas ETF-linked crypto derivatives in the short term.
According to Korean media Naver, due to delays in the revision of South Korea's Capital Markets Act, the country's plan to allow spot crypto ETF trading this year has essentially fallen through.
Currently, there are four pending revisions related to the approval of spot crypto ETFs, but some analysts point out that due to the restructuring of the Financial Services Commission and the Financial Supervisory Service, as well as government stock market activation strategies consuming a lot of policy resources, the institutionalization process of crypto assets may have been placed on the back burner.
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