Bitcoin ETFs See $912 Million Inflows, Bitcoin Price Surges Above $94,000

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Bitcoin ETFs See $912 Million Inflows, Bitcoin Price Surges Above $94,000

Bitcoin ETFs witnessed massive inflows totalling $912.7 million on April 22, marking their strongest performance since January 20, when bitcoin reached its previous all-time high above $108,000. The surge coincides with bitcoin’s price breaking above $94,000 for the first time in 51 days.

ARK 21Shares Bitcoin ETF (ARKB) led the inflows with $267.1 million, its second-largest daily inflow since launch. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $253.8 million, while BlackRock’s iShares Bitcoin Trust (IBIT) secured $193.5 million.

The substantial inflows came as bitcoin surged above 6% in 24 hours, climbing from $88,610 to $94,115. The rally gained momentum following new SEC Chairman Paul Atkins’ swearing-in ceremony, where he pledged to establish a rational, coherent and principle approach to digital asset regulation.

The record inflows signal a significant shift in institutional sentiment, particularly as traditional markets face uncertainty. The surge follows Atkins’ appointment as SEC chair, replacing Gary Gensler, who resigned after Trump’s election victory. Given his known support for innovation, Atkins’ appointment has been widely viewed as positive for the bitcoin and crypto sector.

Bitcoin’s price movement and ETF inflows demonstrate growing institutional confidence in bitcoin as a strategic asset. The total bitcoin and crypto market capitalization has expanded by $800 billion over the recent period, surpassing $2.84 trillion, with Bitcoin’s market value exceeding $1.75 trillion.

The strong ETF performance contrasts with previous weeks of relatively subdued activity. The last time Bitcoin ETFs saw comparable inflows was during January’s price peak, when Donald Trump’s inauguration coincided with Bitcoin reaching $108,000.

Market indicators suggest sustained institutional interest. The bitcoin’s resilience amid broader market volatility has attracted increased attention from institutional investors seeking alternative assets. At press time, Bitcoin trades at $94,100, maintaining its position above the crucial $94,000 level as institutional investment continues through ETF vehicles.

This post Bitcoin ETFs See $912 Million Inflows, Bitcoin Price Surges Above $94,000 first appeared on Bitcoin Magazine and is written by Vivek Sen Bitcoin.

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