Compiled by: Fairy, ChainCatcher
Last week's performance of crypto spot ETFs
The US Bitcoin spot ETF saw a net inflow of $256 million.
Last week, the US Bitcoin spot ETF saw a net inflow of $256 million, with total assets under management reaching $111.46 billion, and an average daily trading volume of $2.8 billion. On January 3, there was a net inflow of $908 million, marking the highest record since November 21.
Inflows mainly came from Fidelity FBTC and ARK Invest's ARKB, with net inflows of $275 million and $200 million respectively. Three ETFs are in a state of net outflow, with BlackRock's IBIT seeing a net outflow of $139 million and Grayscale's GBTC a net outflow of $167 million. Furthermore, there are 4 ETFs with no fund movement.
On January 2, BlackRock's Bitcoin spot ETF saw a net outflow of 3,412 Bitcoin, valued at approximately $330 million, marking the highest net outflow record since the ETF's inception.
Source: Farside Investors
The US Ethereum spot ETF saw a net outflow of $38.1 million.
The US Ethereum spot ETF has shifted from net inflow to net outflow, with a net outflow of $38.1 million last week, total assets under management reaching $13.03 billion, and an average daily trading volume of $368 million.
Outflows mainly came from Bitwise ETHW and Grayscale ETHE, with outflows of $56.1 million and $51.6 million respectively.
Note: The US stock market was closed on January 1, hence no data for that day.
Source: Farside Investors
The Hong Kong Bitcoin spot ETF saw a net inflow of 4.98 Bitcoin.
Last week, the liquidity of Hong Kong crypto ETFs was low, with fund movement occurring on only one day. The Hong Kong Bitcoin spot ETF shifted from net outflow to net inflow, with a net inflow of 4.98 Bitcoin and total assets under management reaching $413 million.
The Hong Kong Ethereum spot ETF had no fund movement, with total assets under management reaching $6.491 million.
Note: The Hong Kong stock market was closed on January 1, hence no data for that day.
Data: SoSoValue
Performance of crypto spot ETF options
As of January 3, the nominal total trading volume of US Bitcoin spot ETF options was $576 million, with a nominal total trading long-short ratio of 1.88. As of January 2, the nominal total open interest of US Bitcoin spot ETF options reached $9.21 billion, with a nominal total open interest long-short ratio of 1.77, indicating a bullish market sentiment.
Additionally, the implied volatility is 61.06%.
Data: SoSoValue
Overview of last week's crypto ETF dynamics
Crypto.com expands in the US, launching zero-commission stock and ETF trading
Crypto.com has expanded its product range in the US, launching stock and exchange-traded fund (ETF) trading on its platform.
According to a statement on January 3, the company announced that its users can now manage their stock and ETF investments as well as their cryptocurrency portfolios directly through their app. The platform offers zero-commission trading, zero-commission stock options, and seamless asset transfers. This feature will initially roll out in Pennsylvania, Ohio, Washington, and Arizona, and will soon be available nationwide.
BlackRock's IBIT ranks third in the ETF rankings for 2024.
Among the top 20 ETFs in 2024, VOO closed at $116 billion, exceeding the old record by $65 billion; IVV closed strongly at $89 billion, while BlackRock's Bitcoin ETF IBIT ranked third with $37 billion.
BlackRock manages 1,101 funds. Its Bitcoin ETF IBIT ranks 13th among all funds by the end of 2024, with assets under management reaching $52 billion (achieving this level in less than a year).
Views and analysis on crypto ETFs
The ETF Store president: We will see an application for a 'BTC-denominated inverse market-cap weighted S&P 500 ETF' in the next two months.
The ETF Store president Nate Geraci posted his prediction on the X platform, stating that we will see an application in the next two months for an 'inverse market-cap weighted S&P 500 ETF denominated in BTC.'
VanEck research director: The US is 'very likely' to approve the SOL ETF in 2025.
Crypto prediction platform Polymarket previously indicated that the probability of the US Solana ETF being listed in 2025 is approximately 77%.
VanEck research director Matthew Sigel noted that this prediction is underestimated. In June 2024, VanEck and its competitor 21Shares sought approval from US regulators to list the spot Solana ETF. In November of last year, shortly after Trump's victory in the US presidential election, Matthew Sigel stated that the likelihood of the US approving the SOL ETF in 2025 is 'very high.'
The ETF Store president released the top five predictions for crypto ETFs in 2025, including spot Ethereum ETF options and staking.
The ETF Store president Nate Geraci posted on X, stating: 'Here are my top five predictions for cryptocurrency ETFs in 2025 (ranked by confidence):
Launch of the spot BTC and ETH joint ETF (obviously)
Spot ETH ETF options trading
Spot BTC and ETH ETF physical creation/redemption
Spot ETH ETF staking
Approval of spot SOL ETF
In fact, these will all happen.
Steno Research: It is expected that Bitcoin and Ethereum ETFs will see net inflows of $48 billion and $28.5 billion this year respectively.
Steno Research recently released a report stating that its bullish price forecasts for BTC and ETH reflect 'an unprecedented favorable regulatory environment for cryptocurrencies, a supportive macroeconomic environment marked by declining interest rates and improved liquidity, and historically strong performance following Bitcoin halving.'
It also stated, 'In addition, institutional adoption is expected to reach unprecedented levels, with significant funds flowing into US Bitcoin and Ethereum ETFs further driving this trend.'
Steno expects net inflows for BTC and ETH ETFs to be $48 billion and $28.5 billion respectively in 2025.
Additionally, the report states that DApp TVL is expected to exceed $300 billion by 2025, far surpassing the high of approximately $180 billion in 2021.
