Bitcoin ETFs See $381.3M Inflows, Largest Since January

US-based Bitcoin exchange-traded funds (ETFs) experienced their largest day of net inflows since late January, as crypto markets remained buoyant over the Easter weekend. The 11 Bitcoin (BTC)-tracking funds saw a joint net inflow of $381.3 million on April 21, largely driven by a $116.1 million inflow into the ARK 21Shares Bitcoin ETF (ARKB). This marked the largest inflow day for the ETFs since the funds had a $588.1 million joint net inflow on Jan. 30, days after Bitcoin hit a peak and was trading with a six-figure price tag.

The ETFs have faced challenges in maintaining inflows over the past few weeks amid trade war threats. Bitcoin fell below $100,000 in early February and hit a 2025 low of $74,773 on April 7, days after tariffs were placed on every country, which also caused a stock market slump. Despite these challenges, the Fidelity Wise Origin Bitcoin Fund (FBTC) saw the second-largest inflow for April 21, with $87.6 million, while the Grayscale Bitcoin Trust (GBTC) and the company’s Bitcoin Mini Trust ETF (BTC) saw joint net inflows of $69.1 million. The Invesco Galaxy Bitcoin ETF (BTCO) and the WisdomTree Bitcoin Fund (BTCW) saw no inflows or outflows on April 21. BlackRock’s iShares Bitcoin Trust ETF (IBIT), the largest of the group by assets under management, saw net inflows reach $41.6 million, about half of the inflows it saw before the weekend trading break on April 17.

US markets had shut down on April 18 in observance of Good Friday, and trading on Monday, April 21, saw them close in the red. The crypto markets, meanwhile, were able to hold onto gains made over the long weekend, with the total crypto market capitalization climbing by $800 billion over the three-day break to hold at $2.84 trillion. Bitcoin has boosted that total, having climbed above a market value of $1.75 trillion for the first time since March 22 as its price struck above $88,500, a four-week high.

This surge in investment is indicative of renewed institutional interest in Bitcoin, which has been bolstered by the cryptocurrency's recent price gains. The significant inflows into U.S. Bitcoin ETFs reflect a broader trend of institutional investment in the cryptocurrency market. Since January 2024, U.S. spot Bitcoin ETFs have acquired over 529,000 BTC, surpassing the 249,725 BTC mined during the same period. This acquisition rate highlights the growing demand for Bitcoin among institutional investors, who are increasingly viewing the cryptocurrency as a valuable asset.

The inflows into Bitcoin ETFs are also supported by the overall positive sentiment in the cryptocurrency market. On April 17, total net inflows into U.S.-listed Bitcoin ETFs reached $106.9 million, the highest in nearly a month. This trend is further evidenced by the modest gains in XRP, which came as Bitcoin rallied, supported by the U.S. BTC-spot ETF market recording the largest inflows since January 30. The renewed institutional interest in Bitcoin is also reflected in the actions of major companies. For instance, MicroStrategy has added to its Bitcoin holdings, further boosting market sentiment. This institutional confidence is driven by expectations of continued price gains and the potential for Bitcoin to decouple from traditional financial markets.

The surge in inflows into U.S. Bitcoin ETFs is a positive sign for the cryptocurrency market, indicating that institutional investors are increasingly viewing Bitcoin as a valuable asset. This trend is likely to continue as more investors seek to capitalize on the potential price gains and the growing demand for Bitcoin. The overall positive sentiment and the actions of major companies further support the notion that Bitcoin is becoming an increasingly attractive investment option for institutional investors.