💥 Bitcoin ETF Inflows Exceeded 380 Million Dollars
Bitcoin exchange-traded funds (ETFs) saw a net inflow of 381.40 million dollars on Monday, April 21. This marks the largest daily inflow recorded since January 30.
These inflows into ETFs are considered a sign of renewed institutional investor confidence.
According to SoSoValue data, the spot Bitcoin ETF that saw the most inflow was the ARKB fund from Ark Invest and 21Shares, which recorded a net inflow of 116.13 million dollars in one day.
Following ARKB was Fidelity’s FBTC fund with a net inflow of 87.61 million dollars. Additionally, BlackRock’s IBIT fund saw an inflow of 41.62 million dollars, while Grayscale’s GBTC fund recorded a net inflow of 36.60 million dollars.
Institutional Investors Continue Bitcoin Purchases
Despite the turbulent period in the market following the announcement of new tariffs by the U.S., institutional investors continue to make Bitcoin purchases.
A Japan-based company, Metaplanet, announced that it purchased 330 Bitcoin for approximately 28.2 million dollars as part of its treasury strategy this week.
Following the announcement of the new tariffs by the U.S., Bitcoin fell to the 75,000 dollar level but has significantly recovered since then.
Bitcoin has appreciated by 3.2% in one week and 11.3% in two weeks.
On the other hand, institutional purchases, a weakening U.S. dollar, and political developments are positively affecting Bitcoin. It is believed that if Bitcoin maintains its momentum, it could break through and rise towards the 94,000 dollar level.
