Spot Bitcoin ETFs Go ‘Pac-Man’ Mode, Gobble Up $1.2 Billion In 1 Week

by

Ah, the world of finance—where money flows faster than the gossip at a family reunion. This week, capital poured into US-listed Bitcoin exchange-traded funds (ETFs) like a high schooler into a weekend party. On Tuesday alone, nearly a billion dollars in fresh cash rushed in, with the total for the week hitting a staggering $1.2 billion. Yes, that’s billion with a “B.” Even Bitcoin’s price caught the wave, climbing to $93,700—its highest since early March. Apparently, Bitcoin is feeling pretty good about itself these days.

BlackRock’s iShares: The Financial Kingpin

Speaking of feeling good, BlackRock’s iShares Bitcoin Trust (IBIT) is firmly holding the crown in this game of ETF thrones. Year-to-date, it’s pulled in a cool $2.7 billion, and just last week, another $346 million was added to its treasure chest. In the grand race of Bitcoin funds, BlackRock is the Usain Bolt—while the rest of the field is still lacing up their shoes.

Then there’s Ark Invest’s ARKB and Grayscale’s Bitcoin funds, trailing behind with inflows of $410.41 million and $385.31 million, respectively. At this rate, they might need a GPS to find BlackRock.

But not all is sunshine and rainbows. Grayscale’s GBTC has been hemorrhaging money, seeing outflows of $1.18 billion since January. It’s like watching a sinking ship, but with more spreadsheets and less water.

The spot Bitcoin ETFs went Pac-Man mode yesterday, +$936m, $1.2b for week. Also notable is 10 of 11 of the originals all took in cash too. Good sign to see flow depth vs say $IBIT doing 90% of the lifting. Price up $93.5k. Pretty strong all things considered IMO.

— Eric Balchunas (@EricBalchunas) April 23, 2025

Institutions Are Waking Up—And They’re Not Alone

Let’s talk about confidence, the kind that doesn’t come from a self-help book but from real, big-money players. Eric Balchunas, the senior ETF analyst from Bloomberg (he must have one of those “I’m very important” job titles), reports that 10 out of 11 spot Bitcoin ETFs saw fresh funds this week. They’re going “Pac-Man mode,” chomping up dollars like the hungry ghosts are after them. This broad-based involvement suggests that institutional investors aren’t putting all their eggs in one basket; they’re diversifying like seasoned gamblers at a casino.

All in all, Bitcoin ETFs saw $496 million traded, bringing total net assets to nearly $57 billion. For context, that’s 2.80% of Ethereum’s market cap. Not bad for an asset that used to be called “too volatile for mainstream investors.” Oh, how the mighty have changed their tune!


Ethereum: The Unlucky Stepchild

Meanwhile, Ethereum products are having a bad time, like someone who can’t catch a break at a job interview. Ethereum lost another $26.7 million last week, bringing its total outflows to $772 million over the last eight weeks. Despite this, Ethereum clings to second place for year-to-date inflows with a modest $215 million. It’s like the runner-up in a race where everyone else is already halfway through their victory laps. Better luck next time, buddy.

Short Bitcoin Products: Not So Short on Pain

As for the Short Bitcoin products, they’re not having a great run either. Seven weeks in a row of outflows, with $1.2 million slipping away last week. They’ve now lost $36 million—40% of their assets—over this depressing streak. Looks like the Bitcoin bulls are having the last laugh.

Then there’s XRP, the surprise star. With over $37 million flowing into XRP investment products last week, it’s officially the underdog that everyone is rooting for. In fact, it’s the third-highest in year-to-date inflows at $214 million, which is more than Ethereum can say at the moment. Take that, Ethereum!

So here’s the thing: All this new money pouring into Bitcoin ETFs might just be the clearest sign yet that traditional financial institutions are starting to take cryptocurrency seriously. We’re talking about nearly a billion dollars in just one day—basically a stamp of approval from the powers that be. Welcome to the new era, folks. It looks like Bitcoin’s moment is finally here.

Read More

2025-04-25 01:19