U.S. spot Bitcoin ETFs experienced a notable surge in investor demand on April 21, registering their largest single-day inflows in three months.
This rally was fueled by a broader shift toward riskier assets following former President Donald Trump’s public criticism of Federal Reserve Chair Jerome Powell. According to data from SoSoValue, the 12 Bitcoin ETFs collectively attracted $381.4 million in net inflows — a staggering 250% increase from the previous day.
ARK 21Shares’ ARKB led this wave, which secured $116.13 million in inflows. Fidelity’s FBTC closely followed it with $87.61 million. Bitwise’s BITB and BlackRock’s IBIT also posted strong numbers, pulling in $45.08 million and $41.62 million, respectively. Meanwhile, VanEck’s HODL and Franklin Templeton’s EZBC contributed $11.72 million and $10.1 million.
In addition, Grayscale’s GBTC and BTC funds bolstered the momentum, drawing in $36.6 million and $32.55 million, respectively. However, the optimism around Bitcoin ETFs contrasted sharply with the ongoing struggles of Ethereum-based products. Ethereum ETFs continued their bearish streak with $25.42 million in outflows this week, marking the eighth consecutive week of losses. These sustained outflows have now amounted to nearly $910 million.
The renewed appetite for Bitcoin ETFs also follows a recent market shift, as the funds reversed a two-week outflow streak last week with $15.85 million in net additions. This uptick in institutional interest suggests growing confidence in Bitcoin despite broader market uncertainties.
Adding to the market momentum was a fresh wave of political pressure on the Federal Reserve. President Trump took to Truth Social to intensify his criticism of Chair Jerome Powell, declaring that his “termination can’t come fast enough.” The remarks responded to Powell’s cautious approach to interest rate cuts. Meanwhile, Trump’s broader economic policies may have additional implications for the crypto space. The administration’s aggressive tariff measures are expected to dampen demand for Bitcoin mining rigs in the U.S. — a development that could tilt the advantage toward overseas mining operations.
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