Crypto ETF Weekly Report | The U.S. Bitcoin spot ETF saw a net inflow of $2.714 billion last week

Finishing: Jerry, ChainCatcher

Last week's crypto spot ETF performance

The U.S. Bitcoin spot ETF saw a net inflow of $2.714 billion

Last week, the US Bitcoin spot ETF saw a three-day net inflow, with a total net inflow of $2.714 billion and a total net asset value of $150.60 billion.

Last week, 8 ETFs were in a state of net inflows, mainly from IBIT, FBTC, ARKB, with inflows of $1.759 billion, $399 million, and $339 million, respectively.

Source: Farside Investors

The U.S. Ethereum spot ETF saw a net inflow of $908 million

Last week, the U.S. Ethereum spot ETF saw a four-day net inflow, with a total net inflow of $908 million and a total net asset value of $13.53 billion.

Last week's inflows came mainly from BlackRock ETHA, with a net inflow of $675 million. A total of 1 Ethereum spot ETF has no fund flow.

Source: Farside Investors

There were no inflows into the Hong Kong Bitcoin spot ETF

Last week, there were no inflows into the Hong Kong Bitcoin spot ETF, with a net asset value of $488 million. Among them, the issuer Harvest's bitcoin holdings fell to 293.31, and ChinaAMC maintained 2220 bitcoins.

The Hong Kong Ethereum spot ETF saw no inflows, with a net asset value of $64.02 million.

Source: SoSoValue

Crypto spot ETF options performance

As of July 11, the total notional turnover of Bitcoin spot ETF options in the United States was $6.20 billion, and the notional total trading ratio was 2.79.

As of July 10, the total notional position of Bitcoin spot ETF options in the United States reached $22.95 billion, and the total notional long-to-short ratio reached 2.07.

The market has seen increased trading activity on Bitcoin spot ETF options in the short term, and the overall sentiment is bullish.

In addition, the implied volatility is 43.80%.

Source: SoSoValue

A snapshot of last week's crypto ETFs

Grayscale filed a lawyer's letter protesting the SEC's "stay" order on GDLC's ETF conversion

Bloomberg analyst James Seyffart tweeted that Grayscale and his lawyers filed a letter in response to the U.S. SEC's "stay" order on GDLC's ETF conversion, arguing that the SEC has no authority to do so.

A leveraged ETF tracking TRON filed with the SEC

The U.S. ETF Opportunities Trust has filed an application with the SEC for the "T-REX 2X Long TRON Daily Target ETF", which plans to amplify the performance of TRON by 2x daily and join the U.S. SEC's pending cohort of crypto funds.

The fund, which was launched by REX Shares, will track TRON prices through derivatives such as swaps. The SEC is currently evaluating a number of crypto ETF proposals, including SOL and DOGE, to improve regulatory friendliness. At the same time, the SEC is also working on a set of criteria that could speed up the ETF approval process, covering metrics such as market capitalization, decentralization, and wallet distribution.

The SEC is weighing a faster approval framework, and the floodgates for altcoin ETFs may be open

The U.S. Securities and Exchange Commission (SEC) is considering implementing a faster approval framework as the number of applications for crypto exchange-traded funds (ETFs) has surged, according to The Block.

This change could open the floodgates for the approval of crypto ETFs, allowing more of these financial products to enter the market. The SEC is weighing this new framework in response to the growing demand for crypto ETFs in the market.

Truth Social submits an application for S-1 filing for a cryptocurrency blue-chip ETF

According to the official website of the US SEC, Truth Social filed an application for S-1 filing for a cryptocurrency blue-chip ETF.

The assets of the trust are mainly made up of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), and Cronos (CRO) held by the trust for the trust.

The SEC urged issuers to revise and resubmit their applications for spot Solana ETFs by the end of July

The U.S. Securities and Exchange Commission (SEC) is urging issuers to revise and resubmit applications for spot Solana ETFs by the end of July, suggesting that approval will be faster than expected. Previously, the REX-Osprey SOL and Staking ETFs were automatically approved and began trading under different regulatory rules last week, which means that the spot Solana ETF will join Bitcoin and Ether as the only approved spot crypto funds in the US, while applications for XRP, Dogecoin, and Litecoin are still pending.

The SEC delays approval of the physical redemption method of the BlackRock spot Ethereum ETF

The SEC confirmed amendments to the Bitwise spot Bitcoin and Ethereum ETFs regarding physical redemptions

The SEC delays approval of Fidelity's spot Solana ETF

The SEC confirmed receipt of Truth Social's application for spot Bitcoin and Ethereum ETFs

Views and analysis on crypto ETFs

Xu Zhengyu: The first phase of the stablecoin license will be issued in limited quantities, and the tokenization of financial assets will be extended to ETFs

Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, spoke to the cable news "Caizhi. As for whether RMB stablecoins can be issued, he said that the law does not restrict the linked currency, but if other regional currencies are involved, it may need to be discussed with relevant institutions.

Xu Zhengyu stressed that the government will take the lead in promoting the application of stablecoins, especially focusing on cross-border payment scenarios, to help developing countries cope with the depreciation of their currencies and risks in the financial system. He also revealed that Hong Kong will promote the tokenization of financial assets in the future, and after green bonds, the next step is to extend to exchange-traded funds and ETFs, and believes that commodity transactions such as metals can also be studied to be paid in tokens.

Bloomberg ETF analysts: BlackRock's IBIT became the fastest ETF to surpass $80 billion in market capitalization

Eric Balchunas, an analyst at Bloomberg ETF, tweeted that BlackRock's IBIT crossed the $80 billion mark, becoming the fastest ETF in history to break $80 billion in 374 days, about five times faster than the previous record held by VOO (1,814 days). In addition, IBIT has a market capitalization of $83 billion and is currently the 21st largest ETF in the world.

10x Research: Bitcoin ETFs have seen net inflows of $15 billion since mid-April, with Trump's pressure on the Fed sparking bullish sentiment in the market

According to CoinDesk, 10x Research founder Markus Thielen noted in a client note on Thursday that since late April 2025, Bitcoin ETF inflows have surged, mainly due to pressure from Trump and others, Trump publicly asked Chairman Powell to cut interest rates to 1% and resign, and Federal Housing Finance Director Bill Pulte and Senator Cynthia Lummis also called on Powell to step down. Meanwhile, the minutes of the Fed's July meeting showed a heightened divergence among officials on policy. Continued inflows into ETFs and increased pressure to cut interest rates have forced previously hesitant traders to re-enter the market, driving a recovery in crypto bullish momentum.

Thielen said that Bitcoin ETFs have bought $15 billion of bitcoin since mid-April without interruption, and steady demand is forcing traders to re-enter the market. Combined with July's seasonal performance and macro catalysts, the market still supports further gains.