Bitcoin ETF Inflows Surge: Over $3 Billion in a Single Week

US-listed spot Bitcoin exchange-traded funds (ETFs) experienced a significant surge in investment this week, attracting over $3 billion in inflows. This marks the first full week of consecutive inflows in five weeks, signaling renewed investor confidence in the Bitcoin market.

Data from Farside reveals that the 11 spot Bitcoin (BTC) ETFs collectively saw an inflow of $380 million on April 25th alone, contributing to the week’s impressive total of approximately $3.06 billion. The last time spot Bitcoin ETFs enjoyed a full week of inflows was the week ending March 21st.

April’s Positive Turnaround

The substantial inflows have transformed April’s performance, changing what was initially a volatile month. ETF analyst Eric Balchunas noted the rapid shift in investment flows, using the phrase “Bitcoin bender” to describe the market’s enthusiasm.

Balchunas further suggests that a portion of these flows might be attributed to the ‘basis trade’ strategy. Although nine of April’s 18 trading days featured outflows, the recent surge resulted in a net positive inflow of roughly $2.26 billion for the month.

Adding to the positive sentiment, Michael Saylor, founder of MicroStrategy, predicted that BlackRock’s iShares Bitcoin ETF will become the world’s largest ETF within a decade.

BlackRock’s iShares Bitcoin ETF (IBIT) further strengthened its position by winning “Best New ETF” at the annual etf.com ETF awards, adding to its momentum. Meanwhile, Bitcoin’s price hovers around $95,000, with institutions maintaining bullish price predictions. ARK Invest recently revised its Bitcoin price target upwards, projecting a potential reach of $2.4 million by 2030.

Related: 5 Bitcoin Charts Predicting a Price Rally Toward $100K

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