Bitcoin (BTC) ETF sees a surge in capital: Net inflows exceed $3 billion in a single week, ending five weeks of outflows.

Source: Cointelegraph Original text: "Bitcoin (BTC) ETF sees a rush for funds again: weekly net inflow exceeds $3 billion, ending five weeks of capital outflow"

The net inflow of funds into U.S. Bitcoin spot ETFs exceeded $3 billion this week, marking the first week of sustained net inflows in five weeks. According to Farside data, on April 25, 11 Bitcoin spot ETFs saw a single-day net inflow of $380 million, achieving a continuous net inflow for five days, totaling approximately $3.06 billion for the week. The last time Bitcoin spot ETFs had a full week of net inflows was the week of March 21.

Strong capital inflows helped turn a profit in April.

ETF analyst Eric Balchunas stated in a post on the X platform on April 24 that "ETFs are staging a Bitcoin frenzy."

"What is truly noteworthy is how quickly the capital flow can surge from level one directly to level five," Balchunas stated, predicting that some of the capital flow may stem from "the re-emergence of basis trading strategies in the market."

In the context of ongoing macroeconomic uncertainty, Bitcoin spot ETFs experienced a month of significant volatility in April – as of now, there have been net outflows on 9 out of the 18 trading days.

However, the strong capital inflow in the past week successfully reversed the situation, bringing the overall net inflow for April back up to about $2.26 billion. On April 25th, MicroStrategy founder Michael Saylor predicted during the Bitwise Bitcoin Corporate Investment Day event that the BlackRock iShares Bitcoin ETF "will become the largest ETF in the world within ten years."

Just two days ago, on April 23, BlackRock's IBIT Bitcoin ETF won the "Best New ETF" award at the etf.com Annual Awards, while also being recognized as the "Best Crypto ETP Product of the Year." According to CoinMarketCap, the spot price of Bitcoin has been fluctuating around the $95,000 mark, with a reported price of $94,613 at the time of writing.

Institutional investors are continuously raising their bullish expectations. The asset management company ARK Invest has recently increased its "bull market target price" for Bitcoin at the end of 2030 from $1.5 million to $2.4 million, primarily based on the entry of institutional investors and the increased recognition of Bitcoin as "digital gold." ARK has also raised its "bear market" and "benchmark" target prices to $500,000 and $1.2 million, respectively.

Related: Senator Lummis: The Federal Reserve's withdrawal of cryptocurrency bank regulation rules "is not a real progress"