On April 21, Bitcoin ETFs in the U.S. recorded a significant inflow of $381.3 million, the largest in nearly two months, coinciding with Bitcoin’s price rise to approximately $90,997. The ARK 21Shares Bitcoin ETF led with $116.1 million, followed by Fidelity’s Wise Origin with $87.6 million. While European markets showed optimism, U.S. digital asset investments faced caution with net outflows of $71 million.
On April 21, Bitcoin exchange-traded funds (ETFs) in the U.S. witnessed a remarkable net inflow of $381.3 million, marking the largest inflow in nearly two months, as reported by Farside Investor. This uptick occurred amidst Bitcoin’s price resurgence, reaching approximately $90,997 after climbing back to the $88,000 range, the highest since January.
The leading contributor to these inflows was the ARK 21Shares Bitcoin ETF (ARKB), which attracted $116.1 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed closely, securing $87.6 million. Additional inflows were recorded by Grayscale’s Bitcoin Trust (GBTC) and the Bitcoin Mini Trust ETF (BTC), amounting to $69.1 million combined. BlackRock’s iShares Bitcoin Trust ETF (IBIT), being the largest ETF by assets, captured $41.6 million.
As anticipation builds for the potential launch of the first XRP ETF, investors are keenly observing market responses to new developments within the cryptocurrency space. Despite the optimistic outcomes for Bitcoin ETFs, the overall digital asset investment environment remains mixed. CoinShares’ report indicates that U.S. digital asset investors exhibit caution, reflected in net outflows of $71 million for the week, suggesting that April 21’s inflow was a deviation from a declining trend.
In contrast, European markets displayed a more favourable outlook, notably with Switzerland recording inflows of $43.7 million and Germany at $22.3 million. Canada also participated in this upward trend with inflows reaching $9.4 million.
Further analysis from CoinShares shows that unexpected spikes in U.S. retail sales contributed to substantial outflows of $146 million from digital assets mid-week. Although Bitcoin-related products experienced minor outflows of $6 million, short Bitcoin investment instruments have continued to face challenges, suffering outflows for the seventh consecutive week, culminating in a 40% decline in assets under management.
