Bitcoin ETFs See $3.06B Weekly Inflows, Second-Highest on Record
In what many see as a sign of Bitcoin’s deepening foothold among institutional investors, spot BTC exchange-traded funds (ETFs) recorded a staggering $3.06 billion in net inflows last week.
This dramatic surge, unfolding between April 21 and April 25, marks the second-largest weekly performance by the ETFs ever since they were approved by the U.S. Securities and Exchange Commission (SEC) in January 2024.
Notable Net Inflows
The latest data from SoSoValue paints a vivid picture of accelerating institutional commitment. Last week’s net inflow of $3.06 billion stands second only to the record set in November 2024, when spot BTC ETFs attracted $3.38 billion over a single week.
Trailing behind are the $2.73 billion raised between November 29 and December 6, 2024, and the $2.57 billion recorded between March 8 and March 15, 2024.
Net weekly inflows also breached the $2 billion mark on several other occasions, including $2.27 billion in the second week of February 2024, $2.24 billion in the first week of March 2024, and $2.22 billion in the first week of November 2024.
Looking at the daily breakdowns of the latest inflows, April 22 and 23 contributed hugely to the history-making surge, registering daily total net inflows of $936.43 million and $916.91 million, respectively. Things did drop off somewhat toward the end of the week, with Thursday 24 seeing $442 million in inflows and Friday 25 hitting just shy of $380 million.
So far, BlackRock’s iShares Bitcoin Trust (IBIT) enjoys the highest cumulative net inflow of the BTC ETFs, with a total of $41.2 billion injected into it. The Fidelity Wise Origin Bitcoin Fund (FBTC) is a distant second, with about $11.86 billion in net inflows, while Grayscale’s GBTC is in the red for $22.69 billion.
ETFs, Corporations Stabilizing BTC Prices
The period in which the spot Bitcoin ETFs exploded also marked a surge past $94,000 for the cryptocurrency’s price, a rally experts say is being fueled by wealth managers, corporate treasuries, and sovereign entities rather than retail speculation.
As Bitwise CEO Hunter Horsley pointed out on X, search interest for Bitcoin on Google remains near historic lows even as prices soar. “This hasn’t been retail-driven,” the executive explained.
Previously, Bloomberg ETF expert Eric Balchunas expressed the same opinion, suggesting that corporations and exchange-traded funds were now the primary buyers of Bitcoin, a shift that is bringing greater stability to the asset’s price.
After trading sluggishly for much of early April, BTC broke decisively higher starting April 19. It vaulted past key resistance levels, accelerating through $90,000 to hit a weekly high of $95,768 before settling near $94,700.
Looking at Bitcoin’s fundamentals, technical analysts are predicting a bullish run past the $100,000 level, with others anticipating an even bigger surge to $155,000 amid network growth and strong accumulation.
The post Bitcoin ETFs See $3.06B Weekly Inflows, Second-Highest on Record appeared first on CryptoPotato.
Read More
Strategy’s Bitcoin Stash Grows With Another 15,355 BTC Bought for $1.4 Billion
Bitcoin ETFs See $3.06B Weekly Inflows, Second-Highest on Record
In what many see as a sign of Bitcoin’s deepening foothold among institutional investors, spot BTC exchange-traded funds (ETFs) recorded a staggering $3.06 billion in net inflows last week.
This dramatic surge, unfolding between April 21 and April 25, marks the second-largest weekly performance by the ETFs ever since they were approved by the U.S. Securities and Exchange Commission (SEC) in January 2024.
Notable Net Inflows
The latest data from SoSoValue paints a vivid picture of accelerating institutional commitment. Last week’s net inflow of $3.06 billion stands second only to the record set in November 2024, when spot BTC ETFs attracted $3.38 billion over a single week.
Trailing behind are the $2.73 billion raised between November 29 and December 6, 2024, and the $2.57 billion recorded between March 8 and March 15, 2024.
Net weekly inflows also breached the $2 billion mark on several other occasions, including $2.27 billion in the second week of February 2024, $2.24 billion in the first week of March 2024, and $2.22 billion in the first week of November 2024.
Looking at the daily breakdowns of the latest inflows, April 22 and 23 contributed hugely to the history-making surge, registering daily total net inflows of $936.43 million and $916.91 million, respectively. Things did drop off somewhat toward the end of the week, with Thursday 24 seeing $442 million in inflows and Friday 25 hitting just shy of $380 million.
So far, BlackRock’s iShares Bitcoin Trust (IBIT) enjoys the highest cumulative net inflow of the BTC ETFs, with a total of $41.2 billion injected into it. The Fidelity Wise Origin Bitcoin Fund (FBTC) is a distant second, with about $11.86 billion in net inflows, while Grayscale’s GBTC is in the red for $22.69 billion.
ETFs, Corporations Stabilizing BTC Prices
The period in which the spot Bitcoin ETFs exploded also marked a surge past $94,000 for the cryptocurrency’s price, a rally experts say is being fueled by wealth managers, corporate treasuries, and sovereign entities rather than retail speculation.
As Bitwise CEO Hunter Horsley pointed out on X, search interest for Bitcoin on Google remains near historic lows even as prices soar. “This hasn’t been retail-driven,” the executive explained.
Previously, Bloomberg ETF expert Eric Balchunas expressed the same opinion, suggesting that corporations and exchange-traded funds were now the primary buyers of Bitcoin, a shift that is bringing greater stability to the asset’s price.
After trading sluggishly for much of early April, BTC broke decisively higher starting April 19. It vaulted past key resistance levels, accelerating through $90,000 to hit a weekly high of $95,768 before settling near $94,700.
Looking at Bitcoin’s fundamentals, technical analysts are predicting a bullish run past the $100,000 level, with others anticipating an even bigger surge to $155,000 amid network growth and strong accumulation.
The post Bitcoin ETFs See $3.06B Weekly Inflows, Second-Highest on Record appeared first on CryptoPotato.
Read More