The crypto market kicked off 2025 with $2.6 billion worth of BTC and ETH options expiring, signaling increased activity.
Meanwhile, Bitcoin and Ethereum spot ETFs saw mixed moves. Significant outflows and inflows highlight changes in investor sentiment and market recalibration.
BTC and ETH crypto options expire with $2.6 billion in face value as market heats up
January 3 options data marks an important expiration event in the crypto market, showing more than usual interest dynamics. A total of 20,000 Bitcoin (BTC) options expired with a put-call ratio of 0.69.
The face value of these options was $1.93 billion with the highest pain point at $97,000. On the ETH side, 206,000 ETH options expired with a put call ratio of 0.81, a maximum pain point of $3,400 and a notional value of $710 million.
Traders are still very interested in the BTC and ETH derivatives markets. It is the first weekly delivery of options in 2025, with a total of $2.6 billion worth of options expiring.
European and American clients are returning from vacation, leading to a large expiration this trading day.
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Based on sentiment, the put call ratios are a bit more balanced. However, Ethereum has a higher ratio than Bitcoin, indicating a bit more bullish sentiment.
While institutional and retail investors rush to reposition themselves for the new year, market activity is heating up.
These options may expire in place. They would therefore lead to a recalibration of the price level and consequently higher volatility in the short term.
Ethereum Spot ETF Sees $77.51M Outflow Amid Grayscale Fall
In total, there was a net outflow of USD 77.51 million on January 2. Investor activity took a hit on the day for Ethereum spot ETFs.
Moreover, like Grayscale Bitcoin Trust (GBTC), its ETF specifically for Ethereum (ETHE) saw a one-day net outflow of $21.40 million.
Even with these outflows, the total net asset value of Ethereum spot ETFs remains very strong at $12.438 billion.
This creates contrasting flows. Recent periods of inflows appear quite strong in contrast to large sudden outflows. And this is an indicator of short-term uncertainty among investors.
The news follows a period of higher inflows recorded at the end of December. There could be a change in sentiment when investors want to adjust their investment decisions to the current market background.
Investment holders linked to ETH fluctuate based on crypto data, potentially following macroeconomic roots or taking profits on the back of recent gains.
Despite the outflows, the total net asset value of spot ETFs demonstrates global institutional interest in the asset class, despite volatility. All eyes are on how the moves will play out after them to capture broader market trends.
Bitcoin Spot ETFs witness outflows of $242 million amid mixed fund movements
Bitcoin spot ETFs accounted for about $242 million in outflows on January 2. This reflects the incredible decline in investor shares.
Of these, the largest net outflow was recorded by BlackRock’s IBIT ETF. It lost $332 million as investors took or redistributed profits.
On the other hand, Bitwise’s ETF, BITB, saw a net inflow of $48.31 million. Fidelity’s ETF, FBTC, saw a net inflow of $36.20 million as some institutional players still have interest.
Investor strategies were found to vary, with some ETFs showing sharp outflows while others had steady inflows.
It is likely that these fluctuations are influenced by macroeconomic factors, as well as year-end positioning adjustments.
Overall outflows from Bitcoin spot ETFs reflect near-term caution, but inflows into other funds show continued long-term interest in Bitcoin as an investment asset.
The dynamic nature of the market towards the wider economy is reflected in this mixed activity.
