Bitaigen Research We examine the recent unusually active Bitcoin spot ETF from both capital‑flow and price‑performance perspectives, interpret the underlying market‑sentiment shifts and potential trend direction, help readers capture key inflection points, and the following sections will present further data details and in‑depth analysis.
Bitcoin spot ETF saw a net inflow of roughly $462 million in one day, pushing BTC price to briefly surpass the $73,000 threshold and sparking signs of a market‑sentiment rebound.
According to data supplied by Farside, on April 24 2024 the United States spot Bitcoin exchange‑traded fund (ETF) recorded a cumulative net inflow of $462 million, marking the third consecutive day of net inflows. Total industry inflows that day exceeded $1.1 billion, continuing a near‑three‑day upward trend in cumulative capital.
- iShares Bitcoin Trust (IBIT) by BlackRock led the market with a single‑day inflow of $307 million.
- Following closely were Fidelity Wise Origin Bitcoin Fund (FBTC) and Grayscale Bitcoin Mini Trust ETF (BTC), which posted net inflows of $48 million and $32 million, respectively.
- CoinShares Bitcoin ETF (BRRR) registered zero net inflow for the day, with no outflow recorded.
Chart: Daily capital flows (in million USD) for U.S. spot Bitcoin ETFs by issuer since the start of the week
Source: Farside.co.uk
Bloomberg ETF analyst Eric Balchunas noted that, as of this Tuesday, almost all Bitcoin ETFs have shifted from year‑to‑date net outflows to net inflows, with only a few funds still showing net outflows. The specifics are:
| Fund Ticker | YTD Net Outflow |
|---|---|
| FBTC | $1.1 billion |
| GBTC | $648 million |
| ARKB | $162 million |
Source: Eric Balchunas
At the same time, Bitcoin price briefly breached the $73,000 level, buoyed by the ETF inflows. According to Alternative.me’s Crypto Fear & Greed Index, the index rose 12 points over the past 24 hours, indicating a warming of market sentiment. Although the price has recovered roughly 20 % from the February low of $60,000, the index remains in the “Extreme Fear” zone, scoring 20.
At the moment of writing, BTC is trading at $72,214, having slipped about 8 % over the past 30 days (data from CoinGecko).
The above summary outlines the latest situation where a Bitcoin spot ETF attracted a single‑day inflow of $462 million and BTC briefly topped $73,000. For further updates, please follow Bitaigen’s subsequent coverage.
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