Institutional Crypto Assets ETF: Status Analysis and Impact on Bitcoin Price

Recently, the world's largest asset management company submitted a Bitcoin spot ETF application to regulators, which is seen as an important signal for the crypto assets market. As several well-known institutions express their willingness to enter the market, expectations for compliant crypto investment products are increasing day by day.

Analysis of existing Bitcoin-related ETFs and trusts shows:

1. The total holdings of the three major funds ( a certain spot ETF, a certain European ETF, and a certain trust fund ) are approximately 675,600 BTC, valued at $2.027 billion. Recently, there was a cumulative growth of 9,292 BTC, showing an overall upward trend.

2. The total managed assets of the five major Bitcoin futures ETFs reached 1.295 billion USD. Among them, the largest ETF is fully allocated to CME futures contracts, while the other ETFs also allocate a portion to other assets.

3. Recently, the highest return is from a certain futures ETF, reaching 33.20%. Since the beginning of this year, this ETF's return has been as high as 137.65%, clearly outperforming other ETFs and trust funds.

4. One week after the announcement of a large asset management company's application for a Bitcoin spot ETF, the average daily price of Bitcoin increased by 2.78%, marking the highest average daily increase due to news within the statistical range. Previously, an institutional futures ETF application in the same month also resulted in a 1.56% average daily increase.

5. The impact of institutional ETF applications and listings on Bitcoin prices mainly comes from three aspects: institutional reputation, ETF type ( spot ETF applications usually have a greater impact ), and the current price trend of Bitcoin.

Spot ETF and Trust Fund Position Analysis

As of mid-July, the total holdings of the three major funds amount to approximately 675,600 BTC, which is about 20.27 billion USD at a price of 30,000 USD/BTC. Among them, a certain trust fund is the largest, holding 625,200 BTC. Since June, the three funds have collectively increased by 9,292 BTC, showing a good overall growth trend. The holdings of the two spot ETFs have increased by 24.83% and 31.07% respectively, while a certain trust fund has slightly decreased by 0.25%.

In terms of yield, a certain spot ETF performed the best, with an average yield of about 6.76% this month and an average yield of about 8.84% for the year. The other two funds had negative average yields for both this month and the year, but the loss is showing a decreasing trend.

In terms of trading volume, a certain trust fund has the highest average daily trading volume, approximately 3.926 million shares. The two spot ETFs have a combined average daily trading volume of about 321,200 shares. It is worth noting that with more institutions applying for ETFs and the rebound in Bitcoin prices, the average daily trading volume of these funds has increased in June.

Current Status of the Futures ETF Market

Currently, several Bitcoin futures ETFs have been listed in the United States. As of mid-July, the total assets under management of the five major Bitcoin futures ETFs reached $1.295 billion. Among them, the largest ETF has assets of $1.199 billion and is the only product fully allocated to CME futures contracts. Other ETFs, in addition to allocating futures contracts, also hold some other assets such as government bonds.

In terms of capital flow, the largest ETF recently had a net inflow of $259 million, with a net inflow of $333 million this year, far exceeding other ETFs. This ETF also has the highest average daily trading volume, approximately 9.9691 million shares.

In terms of yield, the best performer is a futures ETF that is configured with other blockchain ETFs, with a return of 33.20% in the past month and a cumulative return of 137.65% this year. The yields of other futures ETFs also generally exceeded 70%, performing better overall than spot ETFs and trust funds.

The Impact of ETF News on Bitcoin Prices

The application and listing news of institutional ETFs have a certain impact on the price of Bitcoin. Recently, after a large asset management company applied for a spot ETF, the average daily price of Bitcoin rose by 2.78% within a week, marking the largest increase within the statistical range. Previously, the application of a futures ETF by an institution brought an average daily increase of 1.56% in the month of the application.

Overall, the impact of ETF news on prices may come from three aspects:

1. Institutional Reputation Endorsement
2. The type of ETF ( spot ETF applications usually have a greater impact )
3. At that time, the price trend of Bitcoin

It is important to note that the recent increase in Bitcoin prices may also be related to the rise in on-chain transaction activity. In mid-July, the daily number of on-chain Bitcoin transactions reached 582,500, an increase of 210.83% compared to the beginning of the year. This reflects the expansion of Bitcoin's application scenarios, which may have a positive impact on prices.

Overall, the development of ETFs is closely tied to the entire Crypto Assets market. The extent to which ETFs can bring significant funding and confidence to the market in the future still requires further observation.