ETF Momentum Reignites Amid Bitcoin Rally Toward $95K

U.S.-listed spot Bitcoin ETF have recorded a remarkable $3.06 billion in net inflows this week, marking their first full week of consecutive inflows in five weeks, according to data from Farside Investors.

On April 25 alone, the 11 spot Bitcoin ETFs brought in $380 million, helping to turn what had been a volatile month into a positive one, with April’s net inflows now sitting at approximately $2.26 billion.

This renewed surge follows a period of choppy flows, with nine of April’s first 18 trading days recording net outflows.

Analyst: “Bitcoin ETFs Go from First Gear to Fifth Gear”

Bloomberg ETF analyst Eric Balchunas captured the mood on April 24, describing the inflow spike as a “Bitcoin bender.”

“What’s really notable here is just HOW FAST the flows can go from 1st gear to 5th gear,” Balchunas posted on X.
He also suggested that the return of the basis trade — a popular institutional arbitrage strategy — may be driving some of the renewed inflows.

ETFs are on a bitcoin bender, have consumed nearly 25,000 btc in three days, $IBIT alone took in $643m yesterday, #1 among all ETFs. What’s really notable here is just HOW FAST the flows can go from 1st gear to 5th gear. Prob some is basis trade back in effect, that’s the fast… https://t.co/WwE50FWUq1

— Eric Balchunas (@EricBalchunas) April 24, 2025

The basis trade typically involves buying spot Bitcoin ETFs while shorting Bitcoin futures, allowing institutions to profit from the pricing spread without direct exposure to market volatility.

Bitcoin Price Holds Strong, Institutions Grow More Bullish

Bitcoin’s spot price continues to hover near its recent highs, trading at approximately $94,613 at the time of publication, according to CoinMarketCap.

Meanwhile, institutional optimism for Bitcoin remains elevated:

• At Bitwise Invest’s Bitcoin Corporations Investor Day, Strategy founder Michael Saylor predicted that BlackRock’s iShares Bitcoin ETF (IBIT) will become “the biggest ETF in the world in ten years.“

• Just days earlier, IBIT won the titles of “Best New ETF” and “Crypto ETP of the Year” at the annual etf.com Awards.

Separately, ARK Invest recently revised its 2030 Bitcoin price targets, raising its bull case to $2.4 million and its base case to $1.2 million, largely citing institutional adoption and Bitcoin’s solidifying role as “digital gold.”

Final Thoughts: Institutional Firepower Returns

After a bumpy start to April, Bitcoin ETFs are roaring back — driven by institutional demand, renewed optimism, and macro uncertainty that is increasingly favoring non-sovereign assets like Bitcoin.

While volatility is likely to persist, the sharp swing in flows demonstrates how quickly sentiment can shift — and underscores Bitcoin’s growing role in mainstream investment portfolios.

If the momentum continues, April 2025 could be remembered as the month that Bitcoin ETFs moved from a risky experiment to an essential portfolio allocation for institutions worldwide.