Crypto ETF Weekly Report | Last week, US Bitcoin spot ETFs saw a net inflow of $286 million; US Ethereum spot ETFs saw a net inflow of $209 million

Opinions and Analysis on Crypto ETFs

Glassnode: Ethereum Spot ETFs Show Signs of Recovery, Moderate Inflows Suggest Redemption Pressure Has Eased

Glassnode posted an analysis on X, stating that after several weeks of continuous outflows, Ethereum spot ETFs are beginning to show signs of recovery.

Moderate inflows have started to appear, suggesting that redemption pressure has eased. If net inflows continue, it would indicate improved demand before the end of the year.

Ripple CEO: Total AUM of XRP Spot ETFs on the Market Has Surpassed $1 Billion

Ripple CEO Brad Garlinghouse posted on X that the total assets under management of listed XRP spot ETFs surpassed the $1 billion mark in less than four weeks, making XRP the fastest crypto to reach this milestone since the launch of ETH spot ETFs. In 2025, the US launched over 40 crypto ETFs, indicating huge demand for regulated crypto products. With Vanguard opening crypto trading channels for traditional retirement/trading accounts, millions of ordinary users who are not tech-savvy can now access crypto. For new "off-chain" crypto holders, stability and community are underestimated but crucial themes.

Grayscale CEO: Two Ethereum ETFs Have Generated About $11.8 Million in ETH Staking Rewards

Grayscale CEO Peter Mintzberg posted on X that since Grayscale Ethereum Trust (ETHE) and Ethereum Mini Trust (ETH) began supporting staking rewards, they have generated about $11.8 million in ETH staking rewards for investors in less than sixty days, making them two of the best-performing ETF products in the US ETF market so far.

Bloomberg Analyst: 124 Crypto Asset ETFs Registered in the US Market

Bloomberg ETF senior analyst Eric Balchunas posted a chart on X showing that by the end of 2025, there are 124 crypto-related ETP (exchange-traded product) registration applications in the US market, including: Bitcoin-related products with the highest share, totaling 21 (18 of which are based on the 1940 Act derivative structure). Next are basket products (15), as well as XRP (10), Solana (9), and Ethereum (7) among mainstream tokens. Currently, 42 are spot applications under the 1933 Act, with the rest being derivatives or structured funds.

Solana Foundation Chair: SOL Spot ETFs Saw Nearly $1 Billion Net Inflow Against the Market, DAT Companies to Bridge Solana and Public Markets

Solana Foundation Chair Lily Liu stated at Solana Breakpoint 2025: "Solana is the first blockchain platform to establish a policy research institute.

Today, it is imperative for every institution to formulate a digital asset strategy. As these institutions enter the blockchain space, they are choosing Solana. Western Union, which processes over $60 billion in remittances annually, chose Solana. Pfizer, which processes $2 trillion in merchant payments annually, also chose Solana. Other institutions are following suit.

Of course, ETFs are a major theme this year. We finally have physically-backed Solana staking ETFs—they landed in the Solana ecosystem about six weeks ago, and in just six weeks, their assets under management have approached $1 billion. During a period of overall market underperformance, we saw three consecutive weeks of net inflows. In the US market alone, six physically-backed Solana staking ETFs have been listed.

Another important theme this year, though somewhat controversial, is DAT (crypto treasury companies). Many see DAT as a short-term liquidity tool, but we take the opposite view. Solana is one of the few platforms that allows enterprises to build at both the infrastructure and asset layers. We believe DAT will be long-term ecosystem companies, serving as bridges to connect Solana with public markets, building infrastructure, asset management systems, and integrating all these functions."

Japan FSA: Before Approving Crypto ETFs, Overseas ETF-Linked CFDs Unlikely to Be Opened Domestically

According to Yahoo News, the Japan Financial Services Agency (FSA) clarified in a revised Q&A that derivatives such as CFDs (contracts for difference) linked to overseas crypto asset ETFs are not ideal for domestic provision, as Japan has not yet approved crypto ETFs and the investor protection environment is insufficient.

The FSA pointed out that such products are essentially linked to spot crypto asset prices and fall under the category of crypto derivatives, with insufficient risk disclosure and regulatory framework. As a result, IG Securities has announced the suspension of CFD trading based on US spot Bitcoin ETFs (such as IBIT). Regulatory direction indicates that in the short term, it will be difficult to open up crypto derivatives linked to overseas ETFs in Japan.

Korean Media: Due to Regulatory Delays, South Korea's Plan to Allow Spot Crypto ETF Trading This Year Has Basically Fallen Through

According to Korean media naver, due to delays in amending South Korea's Capital Markets Act, the country's plan to allow spot crypto ETF trading within the year has basically fallen through.

Currently, there are four pending amendments related to the approval of spot crypto ETFs, but some analysts point out that due to the restructuring of the Financial Services Commission and Financial Supervisory Service, as well as government stock market activation measures consuming significant policy resources, the institutionalization process for crypto assets may have been relegated to a secondary position.