After seven days of Bitcoin ETFs being as popular as a soggy biscuit, institutional investors have suddenly rediscovered their love for the digital gold. Since April 2, US-listed spot Bitcoin ETFs have finally seen some action, pulling in a whopping $1.47 million on Monday. Yes, you read that right—$1.47 million. That’s enough to buy a decent-sized yacht… or maybe just a fancy coffee machine.
While the amount is about as modest as a mouse at a cheese convention, it’s a sign that the big players might be warming up to Bitcoin again. Who knew?
Bitcoin ETFs: From Drought to Drizzle
Last week, Bitcoin investment funds were bleeding money faster than a leaky faucet, with $713.30 million flowing out. The cryptocurrency market was floundering like a fish out of water, thanks to Donald Trump’s trade war theatrics. But lo and behold, the tide might be turning.
On Monday, U.S.-listed spot BTC ETFs saw $1.47 million in net inflows. It’s not exactly a tidal wave, but it’s the first sign of life in nearly two weeks. Could this be the start of something big? Or just a blip on the radar? Only time will tell.
The star of the show was BlackRock’s IBIT, which raked in $36.72 million. That brings its total cumulative net inflows to a staggering $39.60 billion. Meanwhile, Fidelity’s FBTC was the party pooper, shedding $35.25 million in a single day. Ouch.
BTC Derivatives: The Plot Thickens 🍿
Over in the derivatives market, things are heating up faster than a microwave burrito. BTC’s futures open interest has climbed by 2% in the past 24 hours, now sitting at a cool $56 billion. That’s a lot of zeros.
But here’s the twist: while open interest is up, the mood is decidedly bearish. The funding rate has flipped negative for the first time since April 2, meaning more traders are betting on a pullback than a rally. Talk about mixed signals!
And let’s not forget the options market, where caution is the name of the game. There are more put contracts than calls, suggesting some traders are hedging their bets or expecting further downside. It’s like watching a poker game where everyone’s bluffing.
Still, for BTC ETFs, any inflow after two weeks of radio silence is cause for celebration. With the broader market sentiment turning increasingly bullish, it’s anyone’s guess whether this trend will stick around. One thing’s for sure: the Bitcoin rollercoaster is far from over. Buckle up! 🎢
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2025-04-15 09:26