US-traded spot bitcoin (BTC-USD) exchange-traded funds recorded $643 million in net outflows last week, while ether ETFs posted $154.3 million in total inflows, according to data from research platform SoSoValue.

ProShares Bitcoin ETF (BITO), which tracks BTC performance through managed exposure to BTC futures, reported around $89.1 million in total inflows last week. The firm's ProShares Ether ETF (EETH), which provides exposure to ETH futures, saw outflows of about $690,000, according to data from Etf.com.

The US Securities and Exchange Commission last week approved orders permitting in-kind creations and redemptions for crypto asset exchange-traded products. The change allows BTC and ETH ETPs to create and redeem shares on an in-kind basis rather than exclusively on an in-cash basis.

The SEC also approved mixed spot bitcoin and ether ETPs, options on certain spot BTC ETPs, flexible exchange options on BTC-based ETPs, and raised position limits for options on spot bitcoin ETPs to 250,000 contracts.

Crypto financial services firm NYDIG said in a Friday report that raising options position limits will likely reduce BTC's volatility and boost spot demand.

"This change enables more aggressive implementation of options strategies, like covered call selling," NYDIG analyst Greg Cipolaro said in a note to clients.

Price: 20.94, Change: +0.44, Percent Change: +2.15