The US Spot Bitcoin Exchange-Traded Funds (ETF) saw an influx of over $3 billion this week, recording its first week in a row in five weeks.
According to Farside data, 11-spot Bitcoin (BTC) ETFs had an influx of $380 million on April 25th, bringing the five-week total to about $3.06 billion on the fifth consecutive inflow. The last week the Spot Bitcoin ETF spent the week of the week ending March 21st.
Strong inflow week will turn into a positive month in April
ETF analyst Eric Balknas said in an April 24th X post that “ETF is in Bitcoin vendors.”
“What's really worth noting here is how fast the flow can go from the first gear to the fifth gear,” Bulknath said.
Amidst continuing financial and macroeconomic uncertainty, the Spot Bitcoin ETF has experienced a volatile April in April, with nine of the total 18 days so far being a leak date.
However, a strong surge in inflows over the past week has made the month positive, bringing the total net inflow in April to around $2.26 billion.
On the same day, strategy founder Michael Saylor reportedly stated on Bitwise Invest Bitcoin Corporations Investor Day that BlackRock's Ishare Bitcoin ETF would “become the world's largest ETF in 10 years.”
Related: 5 Bitcoin charts predicting BTC price rise to $10,000 by May
Just two days ago, on April 23rd, BlackRock's Ishare Bitcoin ETF (IBIT) was awarded the “Best New ETF” at the annual ETF.com ETF Awards. IBIT was also a recipient of Crypto ETP of the Year.
Meanwhile, Bitcoin's spot prices continue to surpass the $95,000 price level at a price level of around $95,000, according to data from CoinMarketCap. The agency continues to raise its bullish price targets.
$1 billion asset manager Ark Invest recently raised its “bullcase” Bitcoin price target from $1.5 million to $2.4 million by the end of 2030. This was driven primarily by increased acceptance of institutional investors and Bitcoin as a “digital gold.”
Ark's “bear” and “base” case scenarios were also categorized as Bitcoin price scenarios up to $500,000 and $1.2 million.
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