Main Takeaways:
- U.S. Bitcoin ETFs have remarkable $3 billion inflows, hitting the first continuous weekly surge since March.
- Bitcoin surges close to $94k, boosting optimism and significant institutional ETF inflows.
Bitcoin ETF Hits Record Highs
According to the reports from SosoValue, these exchange-traded products combined registered $3.06 billion in inflows by the 26th of April, recording their first back-to-back weekly gains since late March.
The current rise stands in stark contrast to the heavy outflows observed at the beginning of this month, containing an unbelievable $713.30 million in withdrawals by the 11th of April.
While $172.69 million came in the next week, this new milestone shows a big change in investor attitude.
Significantly, the last time U.S. Bitcoin ETFs faced back-to-back weekly inflows throughout the week ended on the 28th of March, when they recorded $196.48 million.
At present, the momentum not only mentions renewed trust in Bitcoin-focused investment options but could also fix the tone for the overall market rebound.
The rise in Bitcoin ETF inflows seems to reflect the overall positive feeling spreading through the crypto market.
The Impact of Recent Events on Bitcoin and the Crypto Market
According to CoinMarketCap, bitcoin surged to $94,197.02 after a moderate 0.50% rise in the last 24 hours.
Significantly, the funds have risen to nearly 11% in the last week, getting nearer to the pivotal $94k point.
This sharp price increase has not only energised Bitcoin holders but has also boosted confidence in major altcoins like Ethereum (ETH), Ripple (XRP), and Solana (SOL), with each seeing gains of about 2%.
BlackRock’s IBIT Grabs the Limelight
In reality, data from Farside Investors disclosed that spot Bitcoin ETFs generated a remarkable $442 million in inflows on the 24th of April individually.
BlackRock’s iShares Bitcoin Trust (IBIT) offered a significant $327.3 million to the total.
This points to an unbroken series of positive inflows since the 17th of April, mentioning a reignited surge of institutional trust.
To support the positive market mood, U.S. spot Bitcoin ETFs saw a net inflow of 11,898 BTC in just one day, the highest since November 11, 2024.
As Bitcoin’s momentum picks up, more institutional involvement could mean the start of a stronger and longer-lasting rise in the overall crypto market.
Read also: 10 Best Crypto Investment Books for Aspiring Investors
Disclaimer: We at Bitcoinik.com present you with the latest information in the crypto market. However, this information should not be regarded as financial advice, and viewers should consult their financial advisors before investing.
