Crypto ETF Weekly Report | The overall ETF market performed strongly, and U.S. Bitcoin spot ETF holdings hit a new high

Organization: Fairy, ChainCatcher

Editor: Marco, ChainCatcher

Last week, the crypto ETF market performed strongly overall, and the U.S. Bitcoin Spot ETF Net inflows continued, and Hong Kong virtual asset ETFs also showed net subscription status. The issuer of an Ethereum spot ETF has filed an S-1 filing update and initially disclosed a management fee. KOLs in the industry generally believe that the Ethereum ETF will be approved this week.

Crypto spot ETF performance last week

US Bitcoin spot ETF continues to see net inflows

Last week, US Bitcoin spot ETF has been experiencing net inflows, with a total inflow of US$1.047 billion, and total net assets increased by US$2.02 billion.

According to HODL15Capitaldata, as of July 12, the U.S. Bitcoin spot ETF held 888,600 BTC, and the holdings of 39 funds increased to 1.05 million BTC, both of which hit record highs. This suggests that institutional investors are actively increasing their Bitcoin holdings, possibly out of bargain hunting considerations.

Source: SoSoValue

Among them, the largest net inflow last week was BlackRock ETF IBIT, with a net inflow of US$522 million and a net asset value of US$18.26 billion; closely followed The Fidelity ETF FBTC had a net inflow of US$358 million and a net asset value of US$10.24 billion. Only the Grayscale ETF GBTC was in net outflows, with net outflows reaching $35.3 million, although outflows were lower than the previous week.

Source: Farside Investors

Hong Kong Crypto Spot ETF Presents Net Subscription Status

Hong Kong ETH and BTC Spot ETF Both show net subscription, showing Confidence and interest in Bitcoin are returning out of the Hong Kong market. The total subscription volume of the Hong Kong BTC ETF last week was 947.27 BTC, with the subscription volume on July 12 (Friday) being the highest level except for the first day. Its total Bitcoin holdings increased by 810 coins, and total assets increased by $51.91 million. As of last Friday, the total Bitcoin holdings of issuer Huaxia and Boshi were similar, and the difference in the total net asset value of the two Bitcoins was only US$600,000. In comparison, Harvest’s total Bitcoin holdings are smaller, currently at 741.

The total subscription volume of Hong Kong ETH ETF last week was 156.81 ETH, and there was zero subscription from Monday to Thursday. Its total assets increased by $2.52 million.

Source: SoSoValue

Note: Single-day BTC subscription volume = [Today’s share - Yesterday’s share] * Today’s net asset value / CME Group CF Bitcoin Index (Asia Pacific closing price)

Last week’s crypto ETF dynamics At a glance

• Ethereum spot ETF

On July 8, VanEck, 21Shares, BlackRock, Fidelity, etc.Ethereum spot ETF was released The vendor has submitted an S-1 filing update.

Among them, Invesco Galaxy’s Ethereum spot ETF will charge investors a 0.25% management fee, Franklin Templeton will set its fee at 0.19%, and VanEck will initially waive its spot Ethereum ETF Fees for Grayscale, 21Shares, and BlackRock have not yet been set.

The analysis believes that the management fee is used by the issuer to pay for the maintenance expenses of the fund, such as marketing expenses, salaries and custody services. Most issuers of Bitcoin spot ETFs choose a rate of 0.19% to 0.30%. In the meantime, the same may be true for Ethereum ETF issuers.

Sources say the Ethereum ETF issuer is waiting for the SEC to provide details on the final filing. The SEC has provided multiple rounds of comments for issuers to amend their Form S-1, with each round taking several weeks.

An issuer source said: "The SEC is continuing its review and we appear to be getting closer to final approval. We expect another final document, but the exact timing is unclear."

In addition, BlackRock has submitted an Ethereum spot ETF securities registration application (Form 8-A12B) to the U.S. SEC. The filing of the Form 8-A document means that the issuer can trade the product on the exchange once it is approved, and also marks the progress of the potential approval of the Ethereum spot ETF.

• SOL Spot ETF

According to BITCOINLFG, sources said that BlackRock may apply for the SOL ETF in July.

• New crypto ETF

1. T-Rex launches 2x leverage long, short spot Bitcoin ETF on July 10
2. YieldMax launches short Coinbase stock options strategy ETF
3. DigitalX on July 10 The Bitcoin ETF

will be listed on the Australian Securities Exchange on the 12th. Opinions and analysis on Crypto ETF

The President of The ETF Store: Still believes that the US SEC will announce next week Approval of the S-1 application for Ethereum spot ETF

The ETF Store President Nate Geraci posted on social platforms that the SEC seems to be undergoing a "breath-holding" process similar to that before the 19b-4 application is passed, but he still believes that the SEC will next The S-1 application for the ETH spot ETF was approved last week, and there is no reason to delay.

In response, Bloomberg analyst Eric Balchunas said that every publisher is ready and the documents are ready, and maybe things will develop quickly next week.

Bloomberg Senior ETF Analyst: Solana ETF may be approved in mid-March 2025

Bloomberg Senior ETF Analyst Eric Balchunas explained on social media platform It's mid-March 2025. But the most important date between now and then is November. If Biden wins, these ETFs will likely be wiped out. If Trump wins, anything is possible.

Bloomberg ETF Analyst: The US SEC may approve spot Ethereum ETF on July 18

Bloomberg ETF analyst Eric Balchunas predicts that the US SEC may approve spot Ethereum on July 18 ETF.

Bitwise CCO: Ethereum ETF is about to be approved, and the US SEC is open to discussions on other products

According to CryptoSlate, Bitwise Chief Compliance Officer Katherine Dowling said that the Ethereum ETF is about to be approved.

Dowling 在接受彭博采访时提到，SEC 对其他产品的讨论持开放态度，预计今年夏天将批准现货 ETH ETF。她指出，Bitwise 作为加密领域的专家，希望在巨头如 BlackRock 和 Fidelity 中脱颖而出。此外，虽然 SEC 对新产品的态度积极，但部分产品可能需要在新任主席上任后才能获批。

Matrixport：以太坊（ETH）期货头寸显现多头趋势，或暗示以太坊 ETF 即将获批

Matrixport 发文称，以太坊（ETH）期货头寸显现多头趋势，尽管价格有所回调，自 5 月 20 日市场上涨以来，ETH 期货多头头寸从 270 万 ETH 增加到 310 万 ETH。这表明期货交易者预计以太坊 ETF 即将获批。

即使现货价格尚未反映这一情绪，市场情绪依然看涨，这次可能不会引发“卖出新闻”的事件。

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