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Bitcoin ETFs Bounce Back with $3B Weekly Inflows
After a sluggish April, U.S. spot Bitcoin exchange-traded funds (ETFs) have roared back, recording over $3 billion in net inflows this week. This marks their first full week of consecutive inflows in five weeks, according to Farside Investors data.
On April 25 alone, the 11 spot Bitcoin ETFs saw $380 million in inflows, pushing the total for the week to approximately $3.06 billion. This surge has turned April into a positive month, with total net inflows reaching around $2.26 billion.
Analyst Highlights Rapid Shift in ETF Flows
ETF analyst Eric Balchunas commented on the swift turnaround, noting how quickly spot Bitcoin ETFs can shift from “1st gear to 5th gear.” He suggested that the resurgence might be due to the “basis trade” coming back into effect.
BlackRock’s IBIT Garners Industry Recognition
Adding to the momentum, BlackRock’s iShares Bitcoin ETF (IBIT) was awarded “Best New ETF” at the annual etf.com awards on April 23. It also received the title of Crypto ETP of the Year.
Bitcoin’s Price Holds Steady Amid ETF Surge
Meanwhile, Bitcoin’s spot price continues to hover around the $95,000 mark, currently trading at $94,613. Institutions are maintaining bullish price targets, with ARK Invest recently raising its “bull case” Bitcoin price target from $1.5 million to $2.4 million by the end of 2030.
bitcoin, ETFs, inflows, BlackRock, IBIT
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