Bitcoin ETFs Attract 3 Billion Dollars In One Week
Bitcoin ETFs make a major comeback with over $3 billion in inflows in one week, a first since March. Driven by institutional optimism and dizzying price forecasts for bitcoin, these massive flows mark a decisive turning point for the cryptocurrency market.
In Brief
- Bitcoin ETFs record $3.06 billion in inflows in one week, a first since March.
- Institutional optimism turns April into a positive month, with $2.26 billion in net flows.
- BlackRock’s iShares Bitcoin ETF is named u201cBest New ETFu201d and aims to become the largest ETF worldwide.
- ARK Invest raises its bullish target for bitcoin to $2.4 million by 2030.
Bitcoin ETFs string together 5 days of inflows totaling $3.6 billion
As the SEC once again delays decisions on several crypto ETFs, Bitcoin ETFs themselves have just experienced their first full week of net inflows in five weeks, recording an impressive influx of $3.06 billion according to recent data.
On April 25, the 11 spot Bitcoin ETFs collected $380 million, thus sealing a streak of five consecutive days of inflows. The last similar week dates back to the week ending March 21.
This momentum has transformed what was until now a volatile April into a positive month, with net flows reaching about $2.26 billion. Eric Balchunas, ETF analyst at Bloomberg, commented on X: “ETFs are in a true Bitcoin frenzy.” He highlights how “flows can shift from first to fifth gear in no time“, partly thanks to the return of “basis trade” strategies.
$2.4 million for BTC by 2030?
In this bullish context, Michael Saylor, founder of Strategy, stated during the Bitwise Invest Bitcoin Corporations Investor Day that BlackRock’s iShares Bitcoin ETF (IBIT) would become the largest ETF in the world within 10 years! This same product was recently crowned “Best New ETF” and “Crypto ETP of the Year” at the annual etf.com awards.
Meanwhile, bitcoin’s price remains solid around $94,600, supported by a resurgence of institutional optimism. ARK Invest has also raised its forecasts for 2030: in its bullish scenario, bitcoin could reach $2.4 million, up from $1.5 million previously. Even in the bearish scenario, bitcoin is now targeting $500,000.
As Bitcoin ETFs massively attract capital, institutional adoption seems to confirm bitcoin’s rise as the new digital gold. If this momentum continues, the most ambitious forecasts could quickly become reality, propelling BTC to new historic highs by the end of the decade.
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The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.