U.S.-based Bitcoin exchange-traded funds (ETFs) saw their biggest single-day net inflow in nearly two months on April 21. The total amount invested on the day reached $381.3 million, according to data from Farside Investor
This was the largest inflow since January 30, when Bitcoin ETFs brought in $588.1 million, following Bitcoin’s all-time high. The inflows came as Bitcoin’s price surged back to the $88,000 level. Right now, Bitcoin is trading for $90,997.
The ARK 21Shares Bitcoin ETF (ARKB) took the lead with the largest share of the inflow, attracting $116.1 million. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed closely behind, bringing in $87.6 million. Other ETFs also saw positive movements, with Grayscale’s Bitcoin Trust (GBTC) and Bitcoin Mini Trust ETF (BTC) recording combined inflows of $69.1 million.
BlackRock’s iShares Bitcoin Trust ETF (IBIT), the largest Bitcoin ETF by assets, captured $41.6 million in inflows. Other smaller funds like HODL and EZBC also contributed with inflows of $11.7 million and $10.1 million, respectively.
This surge in ETF investment comes as expectations grow for the first-ever XRP ETF to go live soon. Many investors are waiting to see how the market reacts to this new addition to the crypto investment space.
But, despite this positive day for Bitcoin ETFs, the overall digital asset investment market showed mixed results.
According to CoinShares’ weekly report, U.S. digital asset investors continued to show caution. While Bitcoin ETFs saw strong inflows, the U.S. experienced net outflows totaling $71 million for the week. This suggests that the April 21 performance was an exception to the general trend in the U.S. market.
Meanwhile, European markets showed more positive sentiment towards digital assets. Switzerland led with inflows of $43.7 million, followed by Germany at $22.3 million. Canada also had a positive week, with $9.4 million in inflows.
The CoinShares report highlighted that stronger-than-expected U.S. retail sales figures mid-week led to significant outflows of $146 million from digital assets, causing further fluctuations in the market.
While Bitcoin products experienced a slight outflow of $6 million during the week, short Bitcoin investment products continued to struggle. These products saw outflows for the seventh consecutive week, amounting to a 40% reduction in their total assets under management over this period.
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