🔥【April U.S. Spot ETF Net Inflow Interpretation】
BTC's ETF net inflow is $2.91B, and the price of the coin increased by 11.26% throughout April. It can be said that most of BTC's increase was driven by traditional funds (ETFs). The proportion of BTC's ETFs rose from 5.66% in March to 5.87% (an increase of 0.19%). MicroStrategy, BlackRock, and Fidelity are continuously increasing their holdings.
ETH's ETF net inflow is $137.02M, and the price dropped by 4.39% throughout April. The funds from ETFs are still insufficient to drive ETH's trend, and overall ETF funds are still in a loss state (see Figure 3). It can be said that ETF funds have high-level absorbed ETH. The proportion of ETH's ETFs rose from 2.80% in March to 2.92% (an increase of 0.12%).
Summary:
🔷 1. BTC's ETFs strongly influence BTC's market conditions, especially with funds coming from major players like MicroStrategy, BlackRock, and Fidelity, affecting BTC's price to reach the $100,000 mark again.
🔷 2. The purchasing volume of ETH's ETFs is relatively small, with significant divergence in the market, and major holders are continuously offloading, driving retail investors to sell their positions.
🔷 3. Overall, ETFs showed a net inflow in April, representing traditional funds transitioning from the stock and bond markets into the crypto space, allowing BTC and ETH to develop independent trends.
🔷 4. ETH's ETF funds are at a high level of absorption but show a net asset value in a loss state, with ETF cost estimated around $3583.
