Bitcoin ETF Inflows Bounce Back as Halving Excitement Intensifies: Half a Trillion Dollars up in April

Key Takeaways

• After a brief dip on April 1st, US spot Bitcoin ETFs saw a significant turnaround.
• Friday capped off a positive week with a substantial inflow, showing continued investor interest in BTC ETFs.
• Grayscale’s GBTC experienced the largest outflow among ETFs on Friday.

Spot Bitcoin exchange-traded funds (ETFs) finished the week on a positive note, attracting $203 million in inflows on Friday, according to the most recent figures .

Following an initial dip with $84.7 million in net outflows on April 1, the ETFs made a strong recovery, amassing $569.4 million in net inflows since then.

US Bitcoin ETFs Surge After Dip: Weekly Inflows Top $569 Million

Following an initial drop on April 1, U.S. spot Bitcoin ETFs have seen a continuous streak of net inflows over four days. The influx began modestly with $39.5 million on April 2, surged to $113.5 million the next day, and peaked at $213.4 million on April 4. The week concluded with an impressive $203 million inflow on Friday.

Grayscale’s GBTC Sees Largest ETF Outflow Amid Market Optimism

Despite a positive trend in the overall market, Grayscale’s GBTC experienced the day’s most significant outflow among ETFs. Friday’s ETF trading volume totaled about $2.37 billion, a 31.5% drop from Thursday’s $3.46 billion.

Nevertheless, Friday’s inflows were slightly down by 4.87% compared to Thursday. Following the outflow, GBTC holds 325,686.78 BTC. Conversely, Blackrock’s IBIT and Fidelity’s FBTC saw inflows, with holdings now at 259,381.18 BTC and 149,339 BTC, respectively.

Despite the initial turbulence  experienced by the crypto spot markets in April, the 11 U.S.-based bitcoin ETFs concluded the week on a high note, showcasing ongoing market optimism.

Despite witnessing some fluctuations in trading volumes and experiencing certain outflows, the consistent inflows over four days underscore a continued interest and confidence in the market among investors.

Ripple CEO Foresees Crypto Market Doubling in Value

Industry leaders maintain their optimism, with Ripple CEO Brad Garlinghouse anticipating the cryptocurrency market’s value to double this year, influenced largely by the introduction of spot ETFs and the upcoming Bitcoin halving event.

Garlinghouse recently expressed a positive outlook highlighting the significant impact of these macro trends in attracting institutional investments into the cryptocurrency space for the first time.

About the Author

Teuta Franjkovic

Teuta is a seasoned writer and editor with more than 15 years of experience. She has expertise in covering macroeconomics and technology as well as the cryptocurrency and blockchain industries. She has worked for several publications as a journalist and editor, including Forbes, Bloomberg, CoinTelegraph, Coin Rivet, CoinSpeaker, VRWorld and Arcane Bear. Teuta began her professional career in 2005, working as a lifestyle writer at Cosmopolitan in Croatia. From there, she branched out to several other publications, covering mainly business and the economy. She then turned her attention to the world of cryptocurrency and blockchain, believing that crypto is among the most important inventions in the history of humanity. Her involvement in fintech began in 2014 and she has since lent her expertise in writing, editing and gathering information about the world of crypto, blockchain, NFTs and Web3. An all-round news hound, mentor, editor, and writer, Teuta enjoys teamwork and good communication. She holds a WSET2 diploma and has a thing for chablis, punkrock music and shoes. She also holds a double MA in Political science and Entrepreneurship.

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