Compiled by: Jerry, ChainCatcher
Last Week's Performance of Crypto Spot ETFs
US Bitcoin Spot ETF Net Outflow of $921 Million
Last week, the US Bitcoin spot ETFs experienced a net outflow over four days, totaling $921 million.
Nine ETFs were in a net outflow state last week, with the outflows mainly coming from IBIT, FBTC, and GBTC, which saw outflows of $338 million, $307 million, and $80.6 million, respectively.
Data Source: Farside Investors
US Ethereum Spot ETF Net Outflow of $189 Million
Last week, the US Ethereum spot ETFs experienced a net outflow over five days, totaling $189 million.
The outflow last week mainly came from BlackRock's ETHA, with a net outflow of $63.3 million.
Data Source: Farside Investors
Hong Kong Bitcoin Spot ETF Net Inflow of 0.86 Bitcoin
Last week, the Hong Kong Bitcoin spot ETFs saw a net inflow of 0.86 Bitcoin, with a net asset value of $348 million. The holdings of the issuer, Harvest Bitcoin, remained at 357 Bitcoins, while Huaxia decreased to 2,250 Bitcoins.
The Hong Kong Ethereum spot ETF did not experience any capital flow, with a net asset value of $3.735 million.
Data Source: SoSoValue
Performance of Crypto Spot ETF Options
As of March 14, the nominal total trading volume of US Bitcoin spot ETF options was $1.85 billion, with a nominal total long-short ratio of 1.59.
As of March 13, the nominal total open interest of US Bitcoin spot ETF options reached $10.6 billion, with a nominal total long-short ratio of 2.12.
The market's short-term trading activity for Bitcoin spot ETF options has increased, with overall sentiment leaning bullish.
Additionally, the implied volatility was 54.88%.
Data Source: SoSoValue
Overview of Last Week's Crypto ETF Developments
REX-Osprey Submits N-1A Form for MOVE ETF to the SEC
REX-Osprey has submitted an N-1A registration statement to the US Securities and Exchange Commission (SEC) to apply for the REX-Osprey MOVE ETF, which will invest in the REX-Osprey MOVE Portfolio SP.
The MOVE subsidiary has signed a separate investment advisory agreement with an advisor to manage the MOVE subsidiary's assets. Under normal market conditions, the fund will invest at least 80% of its net assets (plus borrowed funds for investment purposes) in reference assets and other assets that provide exposure to reference assets.
Bitwise: The Trading Code for Its Bitcoin Standard Company ETF is OWNB
Bitwise announced on social media that the trading code for its Bitcoin Standard Company ETF is OWNB.
The top ten companies tracked by this ETF are: Strategy (MSTR), MARA Holdings, CleanSpark, Riot Platforms, Boyaa Interactive, Metaplanet, Aker ASA, Bitfarms, BitFuFu, and Galaxy Digital.
CBOE Submits Application to Allow Franklin Ethereum ETF to Stake
In addition to the Fidelity Ethereum ETF, the Chicago Board Options Exchange (CBOE) has also submitted a proposed rule change to the SEC to allow the Franklin Ethereum ETF to stake in EZET.
It is reported that the CBOE currently has partnerships with five Ethereum ETF issuers, including Fidelity, Franklin Templeton, VanEck, and Invesco/Galaxy.
SEC Delays Approval of DOGE, XRP, LTC, Solana, and ADA Spot ETFs
The US Securities and Exchange Commission (SEC) announced this morning that it is delaying decisions on several cryptocurrency spot ETF applications, including Grayscale's Cardano (ADA) and DOGE spot ETFs, as well as Canary's XRP, Solana, Litecoin spot ETFs, and VanEck's Solana spot ETF.
Market News: CBOE Submits Solana ETF Application for Franklin
According to market news, the CBOE has submitted a Solana ETF application for Franklin.
It is reported that Cboe BZX, a subsidiary of the Chicago Board Options Exchange Group, has submitted a proposed rule change (19b-4 application document) to the SEC.
Cboe Applies to SEC to Allow Invesco Galaxy Bitcoin and Ethereum ETFs for Physical Redemption
According to Decrypt, Cboe BZX has submitted a rule change application to the SEC to allow Invesco Galaxy spot Bitcoin ETF and Ethereum ETF to create and redeem physically.
This mechanism allows authorized participants to directly exchange Bitcoin or Ethereum for ETF shares instead of through cash transactions, thereby reducing the bid-ask spread, lowering trading costs, and avoiding additional brokerage commissions. However, ordinary investors still need to trade the ETF through cash mode.
Currently, the SEC has opened a public comment period, allowing relevant stakeholders to submit feedback before the final decision.
21Shares Plans to Liquidate Two Bitcoin Futures and Ethereum Futures ETFs Around March 28
According to Globenewswire, 21Shares US LLC announced plans to liquidate two Bitcoin futures and Ethereum futures ETFs, namely the ARK 21Shares Active Bitcoin Ethereum Strategy ETF (Cboe BZX: ARKY) and the ARK 21Shares Active On-Chain Bitcoin Strategy ETF (Cboe BZX: ARKC).
Shareholders can sell their holdings in the fund before the end of the trading day on Thursday, March 27, 2025, and such transactions may incur regular brokerage fees. The last trading day for both funds is March 27, 2025. The funds will be liquidated around March 28, 2025. Shareholders who continue to hold fund shares on the liquidation date will receive a liquidation distribution equal to their proportionate share of the fund's value on that date. Shareholders receiving liquidation distributions will typically realize capital gains or losses equivalent to the net asset value of their shares.
Additionally, 21Shares stated that this move is based on a routine review of the company's product lineup to ensure alignment with market dynamics, customer needs, and the mature digital asset landscape. 21Shares and the fund's investment sub-advisor ARK Invest remain loyal partners and look forward to advancing regulated cryptocurrency products in the US market.
Asset Management Company REX Financial Launches Bitcoin Corporate Treasury Convertible Bond ETF
According to BusinessInsider, asset management company REX Financial announced the launch of the Bitcoin Corporate Treasury Convertible Bond ETF (REX Bitcoin Corporate Treasury Convertible Bond ETF), which is listed on NASDAQ under the code BMAX, primarily targeting retail investors and investment advisors, and is a convertible bond issued by companies supporting the inclusion of Bitcoin in their financial strategies.
VanEck Applies to SEC to Launch Avalanche ETF
According to The Block, VanEck has submitted an S-1 application to the SEC to launch an Avalanche ETF.
The application document states: "The investment objective of the trust is to reflect the price performance of the Avalanche network's native token 'AVAX' minus the trust's operating expenses."
SEC Accepts Franklin Templeton's SOL Spot ETF Application
CBOE Submits XRP ETF Application for Franklin
SEC Confirms Receipt of Fidelity Ethereum ETF Staking Proposal Application
US SEC Confirms Receipt of Franklin Ethereum ETF Staking Proposal Application
US SEC Again Delays Approval of Fidelity Ethereum Spot ETF Options Trading
VanEck Registers Avalanche ETF in Delaware
CBOE Submits Proposal for Fidelity Ethereum ETF Staking
Views and Analysis on Crypto ETFs
Bloomberg Analysts Predict Approval Chances for Altcoin ETFs: LTC at 90%, SOL at 70%, XRP at 65%
According to Bitcoinist, the US SEC has delayed its decision on whether to approve applications for exchange-traded funds (ETFs) backed by several altcoins, including XRP, Solana, Litecoin, and Dogecoin, as well as a new Ethereum ETF proposal that allows issuers to stake their held assets and distribute part of the earnings to investors.
Bloomberg ETF analysts James Seyffart and Eric Balchunas provided their predictions for the approval of altcoin ETFs: the likelihood of approval for the Litecoin ETF is 90%, for the Solana ETF is 70%, for the Dogecoin ETF is 75%, and for the XRP ETF is 65%.
President of The ETF Store: Predicts BlackRock Will Apply for SOL and XRP Spot ETFs
Nate Geraci, President of The ETF Store, stated on social media, "I predict that BlackRock will apply for SOL and XRP spot ETFs. The SOL application could be submitted at any time, while the XRP application is expected to occur after the SEC lawsuit concludes."
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