Bitcoin ETFs Show Promise With $3 Billion Inflows and Back-to-Back Weekly Gains Since March

Can Bitcoin ETFs keep up their first back-to-back weekly gains since March?

• U.S. Bitcoin ETFs record $3 billion inflows, marking first consecutive weekly gains since March.

• Bitcoin rallies near $94K, fueling optimism and strong institutional ETF inflows.

In a striking turnaround after weeks of turbulence, U.S. Spot Bitcoin [BTC] ETFs have staged an impressive comeback, posting over $3 billion in inflows this week alone.

Bitcoin ETF Breaks Records

According to data from SosoValue, these exchange-traded products collectively recorded $3.06 billion in inflows by the 26th of April, marking their first consecutive weekly gains since late March.

The latest surge stands in sharp contrast to the heavy outflows seen earlier this month, including a staggering $713.30 million in withdrawals by the 11th of April.

While inflows of $172.69 million were noted the following week, this latest milestone signals a significant shift in investor sentiment.

Notably, the last time U.S. Bitcoin ETFs experienced back-to-back weekly inflows was during the week ending the 28th of March, when they captured $196.48 million. The current momentum not only highlights renewed confidence in Bitcoin-focused investment vehicles but could also set the tone for broader market recovery.

The surge in Bitcoin ETF inflows appears to mirror the broader bullish sentiment sweeping across the crypto market.

Impact on Bitcoin and the Crypto Market

Bitcoin climbed to $94,197.02 following a modest 0.50% increase over the past 24 hours, according to CoinMarketCap.

Impressively, the asset has surged nearly 11% over the past week, pushing closer to the critical $94K mark.

This strong price action has invigorated Bitcoin holders and fueled optimism across major altcoins like Ethereum [ETH], Ripple [XRP], and Solana [SOL], each recording gains of around 2%.

BlackRock’s IBIT Steals the Spotlight

Data from Farside Investors revealed that spot Bitcoin ETFs attracted a staggering $442 million in inflows on the 24th of April alone.

BlackRock’s iShares Bitcoin Trust (IBIT) contributed an impressive $327.3 million to the total.

This marks an uninterrupted streak of positive flows since the 17th of April, highlighting a renewed wave of institutional confidence.

Further reinforcing the bullish sentiment, U.S. spot Bitcoin ETFs collectively recorded a net inflow of 11,898 BTC in a single day, the largest since the 11th of November 2024.

As Bitcoin’s momentum accelerates, the growing institutional participation could signal the beginning of a much stronger and more sustained rally across the broader crypto market.

Conclusion

In summary, the recent influx into Bitcoin ETFs not only reflects a recovery in investor confidence but also sets a promising outlook for future gains. As institutional interest swells, the potential for sustained market growth increases, making this an exciting time for both seasoned investors and newcomers to the cryptocurrency market.