First Market News | SEC Approves Three XRP Futures ETFs, Popular Layer 1 Token SUI is Set for Large Unlocking

Daily Summary: BTC ETF sees over $3 billion inflows in a week, SUI will unlock nearly $260 million tokens this week.

According to data from Farside Investors, last week, the U.S. Bitcoin spot ETF saw inflows of $3.033 billion, with a total increase of 33,462 BTC. Among them, BlackRock's IBIT increased by 15,380, and Fidelity's FBTC increased by 6,412. Since February of this year, BTC ETFs had shown a unilateral net outflow trend, but last week marked the first reversal with inflows, leading to a relatively optimistic market sentiment.

Last week, Ethereum spot ETFs saw an inflow of $205 million, with a total increase of 88,400 ETH. Among them, BlackRock's ETHA added 35,000 ETH, while Grayscale's ETH increased by 19,500 ETH. After nine consecutive weeks of net inflows, the ETH ETF achieved a significant net inflow for the first time.

Viewpoint: The low search volume for Bitcoin on Google indicates that the current market is not driven by retail investors.

Bitwise CEO Hunter Horsley posted on X platform that the price of Bitcoin has reached $94,000, yet the search volume for "Bitcoin" on Google is nearing long-term lows. Data indicates that the recent rise in BTC is not driven by retail investors; the types of investors purchasing Bitcoin are diversifying, with institutions, investment advisors, businesses, and national entities all entering the market.

In addition, according to Cointelegraph, the market capitalization of stablecoins grew by $4.58 billion in just one week, nearing the milestone of $240 billion. Leading stablecoins like USDT and USDC continue to drive market growth.

The SEC has approved three XRP futures ETFs from ProShares Trust

The U.S. SEC previously approved three futures ETFs for ProShares Trust's XRP ETF: ProShares UltraShort XRP ETF, ProShares Ultra XRP ETF, and ProShares Short XRP ETF, which will provide investors with a way to gain exposure to XRP returns without directly holding XRP tokens.

The ProShares Ultra XRP ETF will offer twice the yield of the XRP futures price, the ProShares UltraShort XRP ETF will offer twice the inverse yield of the XRP futures price, and the ProShares Short XRP ETF will offer the inverse yield of the XRP futures price. The three futures ETFs are scheduled to be officially listed for trading on April 30, 2025.

This week's unlocking data overview: SUI will unlock tokens worth $259 million

According to data from Token Unlocks, this week tokens such as SUI, OP, and ZETA will undergo a large one-time unlock, among which:

Sui (SUI) will unlock 74 million tokens on May 1 at 8:00, worth approximately 259 million USD, accounting for 2.28% of the circulating supply;

Optimism (OP) will unlock 31.34 million tokens on April 30 at 8:00, worth approximately 24.32 million USD, accounting for 1.89% of the circulating supply;

ZetaChain (ZETA) will unlock 44.26 million tokens on May 1 at 8:00, worth approximately 11.1 million USD, accounting for 5.67% of the circulating supply;

Ethena (ENA) will unlock 40.63 million tokens on May 2nd at 15:00, valued at approximately 13.98 million USD, accounting for 0.73% of the circulating supply.

Market Analysis: PENGU has risen over 300% this month, BTC is still suitable for regular investment.

Market Hotspots

The meme coin PENGU has risen for several consecutive days, increasing by over 300% from the low point at the beginning of the month, making it one of the best-performing meme coins recently; PENGU is the airdrop token of the well-known NFT project Pudgy Penguins, with a current circulating market value of $780 million, ranking 84th in the entire market; the tokens issued by the NFT project, aside from airdrops, have no other utility or consumption scenarios, making it almost impossible to enter a positive spiral upward trend, and the future of PENGU remains to be observed;

The BNB Chain on-chain tool Bubblemaps project token BMT surged over 50% during the day, then the increase narrowed to 20%; the current circulating market value of BMT is only $37 million, ranking 604th in the entire market; BMT was launched in late March and the current price has dropped more than 60% from its historical high.

Market Trend

BTC has entered a correction phase, with over $3 billion inflows into BTC ETF last week, and market sentiment is optimistic for the future; today's AHR999 index is 0.91, indicating that the current price is suitable for long-term investors to dollar-cost average.

ETH has slightly retraced following the market, although it has risen over $500 from the low point at the beginning of the month, the downtrend of ETH/BTC has not yet reversed.

Altcoins generally retraced, and the market failed to form a sector-wide increase today, with TRUMP and MELANIA both falling back.

Macro News: US Stocks Experience Strong Rebound, Market Focused on This Friday's Non-Farm Data

In the past week, U.S. stocks experienced a strong rebound as Trump's speech alleviated investors' concerns about the escalation of the U.S.-China trade war and the independence of the Federal Reserve. The S&P 500 index rose by 4.5% over the week, the Dow Jones Industrial Average increased by 2.5%, while the tech-heavy Nasdaq Composite Index performed particularly well, climbing a total of 6.6%.

After the major stock indices have basically recovered the ground lost before the tariff announcement on April 2, the market is set to迎来 a week of intensive economic data and corporate earnings reports. On April 30, Beijing time, the US will announce the ADP employment figures for April and the core PCE price index for March; on May 2, the adjusted non-farm payrolls for April and the unemployment rate for April will be released.

Author: Icing T., Gate.io researcher *This article only represents the author's views and does not constitute any trading advice. Investment involves risks, and decisions should be made with caution. *This content is original and copyrighted by Gate.io. If you need to reprint it, please indicate the author and source; otherwise, legal responsibility will be pursued.