In a powerful comeback in institutional interest, U.S. spot Bitcoin exchange-traded funds (ETFs) have recorded their largest single-day net inflows since mid-January.
According to the data from SoSoValue, on Tuesday, April 22, total inflows reached $936 million.
Source: SosoValueThe surge in ETF activity not only follows a weekend of relative stability in the broader crypto market but also comes amid weakening confidence in traditional assets, persistent inflation concerns, and geopolitical strain.
All 10 of the Bitcoin ETFs registered positive flows, led by Ark Invest and 21Shares’ ARKB, which attracted $267.1 million in inflows. Fidelity’s FBTC followed closely with $253.8 million, while BlackRock’s IBIT secured $193.5 million.
These gains contributed to a cumulative three-day net inflow of over $1.4 billion, pushing total assets under management across spot Bitcoin ETFs above $103 billion.
Bitcoin, buoyed by these inflows, jumped 5.64% in the past 24 hours to trade at $93,575 as of press time.
Rachael Lucas, a crypto analyst at Markets, attributed the trend to “a structural rotation of institutional capital back into crypto, driven by macroeconomic dislocations, favorable supply dynamics, and Bitcoin’s growing acceptance as a strategic asset class.”
Presto Research’s Min Jung echoed a similar sentiment in the report, noting that Bitcoin is increasingly being perceived as digital gold.
“It may still be premature to call Bitcoin a full-fledged ‘safe haven,’ but its muted drawdown during recent global risk events is shifting perception,” Jung said.
Adding to the bullish tone was the weakening U.S. dollar, speculation of renewed quantitative easing from the Federal Reserve, and ongoing inflation.
From Easter Weekend to a Midweek Explosion
The massive $936 million in inflows was not an isolated event but rather the culmination of renewed momentum that began over the Easter weekend.
On April 21, U.S.-based Bitcoin ETFs already saw a combined net inflow of $381.3 million, their strongest daily performance since January 30.
The ARK 21Shares Bitcoin ETF (ARKB) alone received $116.1 million, with Fidelity’s FBTC adding another $87.6 million.
BlackRock’s IBIT saw $41.6 million in net inflows, down from its previous pace, but still contributing to the larger rally.
The crypto market’s resilience was especially notable given that U.S. equity markets closed in the red following the holiday break.
The S&P 500 fell by 2.4%, while both the Nasdaq and Dow Jones dropped by 2.5%. Yet Bitcoin and the broader crypto market not only held their ground but also advanced.
Over the three-day Easter break, total crypto market capitalization rose by $800 billion to settle at $2.84 trillion.
Bitcoin accounted for a substantial portion of that, climbing above $90,000 and reclaiming a market cap of $1.75 trillion, a four-week high.
Source: CryptonewsTechnical analysts highlighted this breakout as a signal of renewed price strength, particularly as BTC surpassed its prior resistance at $88,500.
Yet, while institutional capital is flowing in, retail participation remains subdued.
Retail buy volumes (transactions between $0 and $10,000) remain below 0%, indicating that the average investor has yet to return fully.
The Road Ahead: Can the Momentum Hold?
While the current rally is largely driven by leverage and institutional buying, questions remain about its sustainability.
CryptoQuant community manager Maartunn cautioned that much of the buying is “leverage-driven rather than spot volume-driven.”
Glassnode data further backs this, noting that futures open interest increased by $2.4 billion in just 36 hours.
To maintain price levels above $90,000, analysts argue that retail investor participation will need to pick up to support longer-term momentum.
The current disparity between institutional leverage and retail spot buying creates a fragile dynamic that could unravel without broader support.
Meanwhile, geopolitical and macroeconomic narratives continue to shape market sentiment. Treasury Secretary Scott Bessent said on Tuesday that he expects a “de-escalation” in President Donald Trump’s ongoing trade war with China.
The same day, Trump reassured markets by stating he had “no intention” of removing Federal Reserve Chair Jerome Powell.
These developments helped calm investors and set the stage for further inflows into Bitcoin ETFs.
Looking ahead, the current surge in ETF inflows shows a significant shift in how institutional investors view Bitcoin.
Whether this momentum can be sustained will depend on a convergence of technical strength, retail participation, and continued macroeconomic tailwinds.
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