First Market｜SEC approves three XRP futures ETFs, the popular Layer 1 Token SUI will welcome a large unlock.

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

According to data from Farside Investors, last week the US Bitcoin spot ETF saw an inflow of $3.033 billion, accumulating a total 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 one-sided net outflow trend, but last week saw the first reversal in capital inflow, leading to a more 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 increased by 35,000, while Grayscale's ETH increased by 19,500. After nine consecutive weeks of net inflow, ETH ETFs 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 stated on the X platform that the price of Bitcoin has reached $94,000; however, the search volume for "Bitcoin" on Google is close to a long-term low. Data indicates that the current surge in BTC is not driven by retail investors, as the types of investors buying Bitcoin are continuously diversifying, with institutions, investment advisors, corporations, and national entities all entering the market.

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

The U.S. SEC has approved three XRP futures ETFs from ProShares Trust

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

ProShares Ultra XRP ETF will provide double the returns of XRP futures prices, ProShares UltraShort XRP ETF will provide double the inverse returns of XRP futures prices, and ProShares Short XRP ETF will provide inverse returns of XRP futures prices. These three futures ETFs are scheduled to officially launch for trading on April 30, 2025.

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

According to Token Unlocks data, this week tokens such as SUI, OP, and ZETA will undergo a large one-time unlocking.

Sui (SUI) will unlock 74 million tokens on May 1 at 8:00, worth approximately $259 million, 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 2 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, rising by more than 300% from the low point at the beginning of the month, becoming one of the best-performing meme coins in recent times. PENGU is the airdrop token of the well-known NFT project Pudgy Penguins, with a current circulating market value of 780 million US dollars, ranking 84th in the whole market;

The project token BMT of the BNB Chain on-chain tool Bubblemaps surged over 50% during the day, then the increase narrowed to 20%; BMT currently has a circulating market value of 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 Trends

BTC has entered a correction range, with over $3 billion flowing into BTC ETFs last week, creating an optimistic market sentiment for future funds; 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 retreated following the market. Although ETH has risen over $500 from the low point at the beginning of the month, the downward trend of ETH/BTC has not yet reversed.

Altcoins are generally correcting, and the market failed to form a sector-wide increase today, with TRUMP and MELANIA both retreating.

Macro News: U.S. Stocks See Strong Rebound, Market Focuses on Friday's Non-Farm Payroll Data

In the past week, U.S. stocks saw a strong rebound as Trump's speech alleviated investors' concerns about the escalation of the China-U.S. trade war and the independence of the Federal Reserve. The S&P 500 index rose 4.5% for the week, the Dow Jones Industrial Average increased by 2.5%, while the Nasdaq Composite Index, which is heavily weighted with technology stocks, 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 welcome a week of intensive economic data and corporate earnings releases. On April 30, Beijing time, the U.S. will announce the April ADP employment numbers and the March core PCE price index; on May 2, the U.S. will announce the seasonally adjusted non-farm payroll for April and the April unemployment rate.

Author: Icing T., Gate.io researcher *This article only represents the author's views and does not constitute any trading advice. Investment carries risks, and decisions should be made with caution. *This article is original, and the copyright belongs to Gate.io. If reprinting is necessary, please indicate the author and source; otherwise, legal responsibility will be pursued.