Spot Bitcoin ETFs in the U.S. saw over $3 billion in inflows this week, the first full week of inflows in five weeks. April has turned positive with a total of $2.26 billion net inflows this month. Meanwhile, Bitcoin price hovers around $95,000, with institutions raising bullish targets, such as ARK Invest’s increase to $2.4 million by 2030.
In the latest financial update, spot Bitcoin exchange-traded funds (ETFs) in the U.S. reported a striking surge of over $3 billion in inflows this past week. This marks the first full week of consecutive inflows following a five-week dry spell, as revealed by Farside data. On April 25 alone, these 11 Bitcoin ETFs recorded $380 million in inflows. The last such inflow-streak week was noted ending March 21.
ETF analyst Eric Balchunas took to X to comment on the situation, describing the current momentum as a Bitcoin ‘bender’. He pointed out that the shift in inflow rates is remarkable, noting how swiftly the flow dynamics change, potentially influenced by renewed trading strategies.
April has seen notable volatility for Bitcoin ETFs, with nine out of the 18 trading days registered as outflow days. Yet, last week’s influx turned the tide, leading to total net inflows of approximately $2.26 billion for April. This positive trend might prove crucial as the month comes to a close.
Additionally, on April 25, during the Bitwise Invest Bitcoin Corporations Investor Day, Strategy founder Michael Saylor posited that BlackRock’s iShares Bitcoin ETF could become the world’s largest ETF within a decade. Earlier, on April 23, this particular ETF was celebrated at the annual etf.com awards, securing titles of “Best New ETF” and “Crypto ETP of the Year.”
At the same time, Bitcoin’s market price remains around the $95,000 mark, currently at $94,613 according to CoinMarketCap data. This stability comes as institutions continue to adjust their bullish forecasts. ARK Invest, a major asset manager, has recently increased its Bitcoin price target for the bull case, from $1.5 million to $2.4 million by 2030. Their bear and base scenarios were also raised to $500,000 and $1.2 million, respectively, suggesting growing confidence among institutional investors that Bitcoin is establishing itself as a form of “digital gold.”
