On April 22, 2025, a potent display of market momentum took place when spot Bitcoin and Ethereum exchange-traded funds (ETFs) that are listed in the U.S. achieved remarkable net inflows.
Bitcoin ETFs took in $912.7 million, while Ethereum ETFs added $38.8 million, all in a single day. We see these figures as indicators of a resurgence in institutional and retail investor interest in not just these two products but the entire digital asset universe.
The Bitcoin ETFs have now witnessed the largest net inflow since President Donald Trump’s inauguration, an astonishing comparison that really highlights the size and scale of market sentiment around digital assets.
At the same time, the Ethereum ETFs have seen their biggest single-day net inflow in a little more than 50 trading days, with the last comparable day being back on February 4, 2025.
Big Day for Bitcoin and Ethereum ETFs
April 22 was especially momentous for several players in the crypto ETF space. Not one but two of the funds most directly associated with Bitcoin—the ARK 21Shares Bitcoin ETF (ARKB) and the Grayscale Bitcoin Trust (GBTC)—registered their second-highest daily inflows since launching. Why is this noteworthy? For two reasons, mostly. First, it’s a clear signal that the crypto ETF space isn’t totally moribund, as so many have suggested in recent months. Second, it shows that there are still lots of people who want to buy Bitcoin and who are comfortable doing so through familiar, regulated, and somewhat mainstream investment vehicles.
Cumulatively, Bitcoin exchange-traded funds (ETFs) have now secured an extraordinary $36.8 billion in net new assets—totaling over 320 trading days since the approval and listing of these products.
This reflects not just a flash-in-the-pan moment for interest in the Bitcoin ETFs. It speaks to the continuing allure of Bitcoin as a digital safe-haven asset, if not something even more primordial, for those seeking a hedge, amid the current macroeconomic backdrop.
Ethereum, with a net daily inflow of $38.8 million, might seem modest compared to Bitcoin, but it is super significant. Ending a 10-day streak of zero or negative net flows in Ethereum ETFs, this inflow conveys a resuscitated investor confidence in Ethereum.
Particularly heartening for the Ehereum bull case, this inflow occurs at a time when not only upgraded, better-serving Ethereum mainnet is on the roadmap, but also when Ethereum itself appears to be gaining traction, and at a time when asset managers seem to be figuring out just how to do that.
The total inflow across the nine Ethereum ETFs has reached $2.29 billion.
Ethereum’s Huge Potential Sides
This is after 188 trading days. Though this is obviously some small fraction of the capital flowing into Bitcoin funds, it does reflect that Ethereum is seen as a much more valuable and high-potential asset—that goes well beyond being a store of value. There are three main areas where everyone sees Ethereum having huge upside potential: 1. Decentralized Finance (DeFi); 2. Non-Fungible Tokens (NFTs); 3. Tokenized assets (this basically means all the other stuff that can be tokenized, which is a lot and will be more as everything gets digitized).
According to industry analysts, the surge in demand can be traced to several macroeconomic factors, a recent burst of regulatory clarity, and increasing interest from big institutions. Some believe that all of this is related to the much-ballyhooed maturation of infrastructure surrounding crypto, such as access to trading, custody, and ETFs, which is supposedly making the assets themselves more accessible to average investors.
The recent increase in ETF inflows is also associated with significant rises in the prices of cryptocurrencies over the past few weeks. Bitcoin has maintained a solid position above several important technical price points, while Ethereum has been busy reversing some of the steep losses it suffered earlier in the year. All this seems to be knitting together into a rather nice little feedback loop: as the prices of these top two cryptocurrencies keep on rising, confidence among potential investors in these market price levels is also clearly on the rise.
Keeping an eye on this, market watchers will be watching ever so closely to see if the sustained or even resorted to momentum not only holds in place but also potentially ramps up some more. This, especially as growing disquiet and tension resolves around the geopolitical level and as the narrative resolves around central bank decisions, all of which are shaping the market’s broader stories in terms of market direction and asset class performance. For the time being, however, we can certainly say this: digital asset ETFs are very much back in the spotlight.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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