After weeks of little to no new capital inflows, this week seems to have flipped a positive switch and momentum is returning to the Bitcoin ETF ecosystem.
Momentum is slowly building again, with Bitcoin ETFs just hitting their biggest inflows in the past six weeks and seeing a strong resurgence in weekly inflows.
Bitcoin ETF weekly inflows hit $789 million
Saturday, April 11th, data According to research by SoSoValue, Bitcoin ETFs recorded their highest inflows in April. This has been followed by an extended period of volatility in the broader crypto market, although inflows remain above levels seen during March.
Apparently, the last time such a weekly spike in inflows was recorded was in February. Accordingly, Bitcoin ETFs achieved total inflows of $789 million last week, marking the highest weekly inflows since February 27th.
This suggests that momentum is returning to the Bitcoin ETF market after days or weeks of continuous withdrawals.
BlackRock dominates as institutional investor interest reignites
Institutional participants acted extremely cautiously last week, with only a few daily inflows and large withdrawals into the fund, resulting in a very weak closing performance of $22.34 million last week.
While confidence appears to be returning to the market, investors are pouring in huge amounts of money, with weekly inflows reaching nearly $800 million, which could be bullish for the market. Bitcoin’s Next week’s price.
As usual, BlackRock came out on top, accounting for almost 80% of the $789 million in total inflows recorded by Bitcoin ETFs during the week.
The big funds attracted a whopping $612 million of the total recorded inflows, while other funds received smaller amounts or none at all.
