Compiled by: Jerry, ChainCatcher
Performance of Crypto Spot ETFs Last Week
U.S. Bitcoin Spot ETF Net Inflow of $1.023 Billion
Last week, the U.S. Bitcoin spot ETF saw a net inflow for five consecutive days, totaling $1.023 billion, with total assets under management reaching $12.654 billion.
Three ETFs experienced net inflows last week, primarily from IBIT, BITB, and BTC, which saw inflows of $1.231 billion, $29.9 million, and $14.9 million, respectively.
Data Source: Farside Investors
U.S. Ethereum Spot ETF Net Inflow of $4.03 Million
Last week, the U.S. Ethereum spot ETF had a net inflow over four days, totaling $4.03 million, with total assets under management reaching $960 million.
The inflow last week primarily came from BlackRock's ETHA, with a net inflow of $4.82 million. A total of three Ethereum spot ETFs had no fund movement.
Data Source: Farside Investors
Hong Kong Bitcoin Spot ETF Net Outflow of 224.78 Bitcoins
Last week, the Hong Kong Bitcoin spot ETF experienced a net outflow of 224.78 Bitcoins, with total assets under management reaching $43.8 million. The holdings of the issuer, Harvest Bitcoin, decreased to 301.53 Bitcoins, while Huaxia's holdings fell to 2,230 Bitcoins.
The Hong Kong Ethereum spot ETF had a net outflow of 820.88 Ethers, with total assets under management at $5.523 million.
Data Source: SoSoValue
Performance of Crypto Spot ETF Options
As of June 20, the nominal total trading volume of U.S. Bitcoin spot ETF options was $1.02 billion, with a nominal total long-short ratio of 4.60.
As of June 18, the nominal total open interest of U.S. Bitcoin spot ETF options reached $14.8 billion, with a nominal total long-short ratio of 2.08.
The market's short-term trading activity for Bitcoin spot ETF options has decreased, with overall sentiment leaning bullish.
Additionally, the implied volatility was 44.87%.
Data Source: SoSoValue
Overview of Crypto ETF Developments Last Week
South Korea's Financial Services Commission is Developing a Roadmap for Virtual Asset ETFs
According to Bitcoin News, market sources indicate that South Korea's Financial Services Commission is developing a roadmap for virtual asset ETFs, expected to be launched in the second half of this year.
Crypto Asset Management Firm 3iQ Launches 3iQ XRP ETF
According to CoinDesk, crypto asset management firm 3iQ has launched the 3iQ XRP ETF (XRPQ) on the Toronto Stock Exchange (TSX), with a management fee rate of 0% for the first six months. Users can invest through registered accounts in Canada, and listing on the TSX will allow global qualified investors to participate, subject to local regulations.
SEC Initiates Public Comment Period for Franklin's XRP and Solana Spot ETF Proposals
According to a U.S. SEC announcement, a public comment period has been initiated for Franklin Templeton's XRP and Solana spot ETF proposals. The two ETFs are proposed to be listed on the Cboe BZX exchange, with the latest review deadline extended to the end of July, and further extensions possible. The SEC stated that this move does not represent a conclusion and encourages all parties to submit opinions.
VanEck's Proposed Solana Spot ETF Registered with DTCC, Code: VSOL
According to CryptoSlate, VanEck's proposed Solana (SOL) spot ETF has been registered with the U.S. Depository Trust & Clearing Corporation (DTCC), with the code VSOL, marking a step closer to its official launch. The ETF still requires regulatory and exchange approval.
Previously, several U.S. asset management firms submitted Solana ETF applications to the SEC and submitted a revised registration statement in mid-June. Bloomberg analysts expect approval to be granted within three to five weeks, potentially launching in July. VanEck has not yet announced the official trading date for VSOL.
Purpose XRP ETF Approved to Launch on June 18 on the Toronto Stock Exchange
Purpose Investments Inc.'s Purpose XRP ETF has received approval from the Ontario Securities Commission (OSC) for its prospectus receipt, and the ETF is expected to begin trading on June 18 on the Toronto Stock Exchange, trading under the code XRPP. This ETF provides direct exposure to spot XRP.
Following this approval, Purpose will continue to broaden investors' access to digital assets through regulated and transparent investment tools.
U.S. SEC Confirms Receipt of Truth Social's Spot Bitcoin ETF Filing
U.S. SEC Delays Decision on Franklin's Staked Spot Ethereum ETF Application
Truth Social Has Submitted Its S-1 Form for Bitcoin and Ethereum Spot ETFs
Coinshares Submits S-1 Form for Spot Solana ETF
Views and Analysis on Crypto ETFs
Bloomberg analysts Eric Balchunas and James Seyffart have raised the probability of approval for the vast majority of spot crypto ETFs to 90% or higher, noting that the SEC's positive interactions are an important signal. However, the specific approval or launch timing remains uncertain, potentially occurring within the next month or two, or possibly waiting until after October; the timing is less important than the likelihood of approval.
Matrixport: Bitcoin ETFs Attract Over $45 Billion, but Market Faces Hidden Selling Pressure
Matrixport's latest weekly report indicates that Bitcoin ETFs have cumulatively attracted over $45 billion in inflows, with stable corporate allocation demand and growing institutional interest. However, despite the strong inflows into ETFs, there remains a risk of hidden selling pressure in the market, especially as Bitcoin prices approach the average retail holding cost over the past year (around $45,000), which may present potential selling pressure and pose some resistance to upward movement.
The report also notes that some funds that flowed into Bitcoin ETFs in Q2 2024 are still in a loss position, suggesting that market structure adjustments may continue in the short term, with the key being whether Bitcoin can break through the current range and attract a new round of capital inflows.
Opinion: SOL ETF Launch Unlikely to Trigger a Sell-off, While LTC ETF May Do the Opposite
According to The Block, digital asset brokerage and research firm K33 states that as the SEC's stance on cryptocurrencies becomes more favorable, new spot altcoin ETFs may be approved in the coming months, providing investors with some compelling long-short strategy opportunities.
Currently, eight institutions have submitted applications for spot Solana (SOL) ETFs, and the SEC has proactively contacted asset management firms, requesting them to include staking provisions in their updated application documents. K33 analyst Lunde points out that this indicates increased regulatory engagement and raises the likelihood that Ethereum and Solana ETFs may include staking features. Additionally, there are ETF applications for other crypto assets (such as LTC, XRP, and DOGE) besides Solana.
Lunde mentioned that when Bitcoin and Ethereum ETFs were launched, there was a so-called "Grayscale Effect"—where Grayscale's trust funds, after converting to ETFs, saw a large influx of holdings into the market, leading to over 50% of assets under management being sold off within 200 days. However, the situation for potential new ETF assets differs from Grayscale's. Unlike XRP and Dogecoin, Grayscale's Solana and Litecoin trusts have been trading on the public market, making them a more direct reference.
Lunde stated that Grayscale's Solana trust has never traded at a discount since its launch in 2023 and holds only 0.1% of the total SOL supply, thus presenting a lower risk of market sell-off. In contrast, Grayscale's Litecoin trust frequently trades at a discount, holding 2.65% of the total LTC supply, and has faced discount pressure again after recent physical purchases. Furthermore, only Canary Capital and CoinShares have applied for Litecoin ETFs, suggesting that market liquidity may be low, making it difficult to absorb potential selling pressure.
Lunde believes that the structure of the Solana ETF is clearer, while the Litecoin product may face outflows similar to GBTC and ETHE after conversion. Therefore, a trading strategy that goes long on SOL while shorting LTC may be attractive, especially if both are launched simultaneously.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
