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Bitcoin ETF Inflows Hit $3.06 Billion in Stunning Reversal After Weeks of Outflows
In a dramatic turnaround, U.S. Spot Bitcoin (BTC) ETFs have reported an astonishing influx of $3.06 billion in inflows this week alone, marking their first consecutive weekly gains since late March. This significant shift in investor sentiment has sent shockwaves throughout the crypto market, with Bitcoin prices surging near $94K and other major altcoins experiencing notable gains.
The sudden reversal in inflows stands in stark contrast to the heavy outflows seen just a few weeks ago, where $713.30 million was withdrawn from these ETFs. The current momentum not only highlights renewed confidence in Bitcoin-focused investment vehicles but also sets the tone for broader market recovery.
Interestingly, BlackRock’s iShares Bitcoin Trust (IBIT) has emerged as a key player in this unexpected turn of events, contributing a massive $327.3 million to the total inflows on April 24th alone. This marks an uninterrupted streak of positive flows since April 17th, underscoring institutional investor confidence.
Furthermore, U.S. spot Bitcoin ETFs collectively recorded a net influx of 11,898 BTC in a single day, the largest since November 2024. As Bitcoin’s momentum accelerates, this growing institutional participation could signal the start of a more sustained and stronger rally across the broader crypto market.
In related news, Bitcoin prices have surged to near $94K, with many altcoins recording significant gains as well, including Ethereum (ETH), Ripple (XRP), and Solana (SOL).
Source: https://ambcrypto.com/bitcoin-etf-inflows-hit-3-06b-in-stunning-reversal-after-weeks-of-outflows/
