Bitcoin ETFs on $3B ‘bender,’ notch first full inflow week in 5 weeks
Spot Bitcoin exchange-traded funds (ETFs) in the U.S. experienced over $3 billion in inflows this week, marking the first full week of consecutive inflows in five weeks. On April 25, the 11 spot Bitcoin ETFs recorded $380 million in inflows, totaling approximately $3.06 billion over five days. April has turned positive with net inflows of about $2.26 billion, despite nine out of 18 trading days being outflow days. ETF analyst Eric Balchunas noted the rapid increase in flows, possibly linked to the "basis trade." Michael Saylor predicted BlackRock’s iShare Bitcoin ETF will become the largest ETF in ten years. BlackRock’s iShare Bitcoin ETF was awarded “Best New ETF” and “Crypto ETP of the Year.” Bitcoin's spot price is around $94,613, with institutions raising bullish price targets. ARK Invest increased its "bull case" target for Bitcoin to $2.4 million by 2030, with "bear" and "base" cases adjusted to $500,000 and $1.2 million, respectively.
