Major Bitcoin ETF Inflows Hit $664M Amid Hormuz Reopening
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On April 17, US-listed spot Bitcoin exchange-traded funds (ETFs) experienced a remarkable surge, attracting $664 million in new investments, marking the highest daily inflow since January. This influx is linked to the reopening of the pivotal Strait of Hormuz for commercial shipping during a ceasefire, which prompted a market shift towards riskier assets.
Data from SoSoValue indicated that twelve Bitcoin ETFs collectively garnered this impressive capital on the specified day. The announcement by Iran’s foreign minister about the Strait’s reopening triggered a wave of optimism, which was further validated by US President Donald Trump’s confirmation.
This announcement not only eased geopolitical tensions but also catalyzed significant interest in Bitcoin ETFs. Leading the charge, BlackRock’s iShares Bitcoin Trust (IBIT) captured $284 million, while Fidelity’s Wise Origin Bitcoin Fund (FBTC) attracted $163.4 million. The ARK 21Shares Bitcoin ETF (ARKB) was not far behind, securing $117.9 million, and Morgan Stanley’s newly introduced MSBT fund reported $16.6 million in inflows, showing promising interest in this new offering.
However, amid the substantial inflow figures, market analysts express a degree of caution regarding the sustainability of Bitcoin’s rally. According to Ecoinometrics, a digital asset analytics firm, the current influx of capital lacks the momentum necessary for a sustained upward trend. They described the situation as “participation without urgency,” highlighting that recent inflow figures were interspersed with outflows.
In a report, Ecoinometrics explained that daily inflow data showed inconsistency, with the absence of significant single-day inflows typical of stronger demand surges. They emphasized that until capital inflows increase consistently and gather momentum, attempts by Bitcoin to maintain higher price levels could be tenuous.
Despite these reservations, the substantial inflow on April 17 contributed to a noteworthy week for Bitcoin ETFs, marking their strongest weekly performance since January. Over a five-day period, these funds collectively attracted $996 million, a striking recovery from a rocky start to the week that began with a $291 million outflow. This period saw fluctuations with gains of $411.5 million on Tuesday and $186 million on Wednesday, alongside a more modest $26 million on Thursday.
This recent surge marks the third week in a row that Bitcoin ETFs have experienced net inflows, with approximately $1.7 billion accumulated since the start of this trend. As of now, the total net assets in spot Bitcoin ETFs exceed $101 billion, bringing the total net inflows since their inception to a notable $57 billion.
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