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

Organizer: Fairy, ChainCatcher

Last Week's Performance of Crypto Spot ETFs

U.S. Bitcoin Spot ETF Net Inflow of $2.167 Billion

Last week, the U.S. Bitcoin spot ETF had 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

U.S. Ethereum Spot ETF Net Inflow of $854 Million

Last week, the U.S. Ethereum spot ETF had a net inflow of $854 million, setting a new record for the highest weekly inflow to date, with 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 BTC

Last week, the Hong Kong Bitcoin spot ETF had a net outflow of 120.22 BTC, 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 ETH, bringing the total ETH holdings to 16,200, with 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 U.S. 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 U.S. 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 Last Week's Crypto ETF Developments

YieldMax Launches Options Income Strategy ETF Based on Bitcoin Miner MARA on NYSE

ETF issuer YieldMax announced the launch of the YieldMax™ MARA Option Income Strategy ETF (NYSE ticker: MARO) on the NYSE, which 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 previously launched the Bitcoin Options Income Strategy ETF YBIT and the Short Coinbase Stock Options Strategy ETF.

U.S. 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 a balanced investment in the two largest crypto assets in an accessible form." On November 26, Bitwise and the New York Stock Exchange submitted an application to the U.S. 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, as gold's market cap is $17 trillion, while Bitcoin's market cap is $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 markets internationally."

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 U.S. thematic and active ETFs, stated at the 'ETFs in Depth' conference: 'Our 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 Aligns with Market's Renewed Interest in ETH ETFs, SEC Leadership Changes May Drive Market Demand

According to Kaiko Research data, the price of Ethereum (ETH) recently reached an annual high of $4,000. Although it briefly outperformed Bitcoin (BTC) after the U.S. 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 aligns with the market's renewed interest in ETH ETFs, which set a record for historical inflows last week. Institutional investors have shown significant interest in ETH and have high expectations for potential returns in 2025.

Additionally, changes in the leadership of the U.S. 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 experiencing net outflows. Three days saw single-day inflows exceeding $300 million. Adjusted for market cap, 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 U.S. mutual funds typically begin on December 1, and also reflects market optimism for 2025. If this demand continues, Ethereum's price in 2025 may rise significantly.