Bitcoin exchange-traded funds (ETFs) in the United States recorded their most significant day of net inflows since late January, with $381.3 million flowing into these investment vehicles on April 21. This surge coincides with broader strength in cryptocurrency markets over the recent holiday weekend.
The ARK 21Shares Bitcoin ETF (ARKB) led the charge with $116.1 million in new investments, according to CoinGlass data. This marks the strongest influx since January 30, when the funds collectively saw $588.1 million in net inflows shortly after Bitcoin reached peak prices with a six-figure valuation.
The Fidelity Wise Origin Bitcoin Fund (FBTC) attracted the second-largest amount at $87.6 million, while Grayscale’s Bitcoin offerings collectively brought in $69.1 million. BlackRock’s iShares Bitcoin Trust ETF (IBIT), the largest fund by assets under management, received $41.6 million.
Factors Behind The Rally
This renewed investment interest follows a challenging period for Bitcoin ETFs, which struggled to maintain momentum amid market uncertainty triggered by President Trump’s trade war rhetoric. Bitcoin’s price had fallen below $100,000 in early February and reached a 2025 low of $74,773 on April 7, shortly after Trump implemented broad tariffs that also negatively impacted equity markets.
While traditional U.S. markets closed in the red on April 21—with major indices down approximately 2.5% following the Good Friday holiday—cryptocurrency markets demonstrated remarkable resilience. The total cryptocurrency market capitalization increased by $800 billion during the three-day break, holding at $2.84 trillion.
Bitcoin’s market value exceeded $1.75 trillion for the first time since March 22, with its price reaching a four-week high above $88,500. Analysts note that Bitcoin appears to be decoupling from U.S. equities and increasingly correlating with precious metals, potentially signaling its evolution as a safe-haven asset during global economic uncertainty.
Alex Svanevik, CEO of crypto intelligence platform Nansen, observed that Bitcoin is becoming “less Nasdaq—more gold,” highlighting its growing maturity as a global asset. This shift occurs amid escalating trade tensions between the United States and China, with both nations raising reciprocal tariffs to 125% in early April.
Some market observers point to the expanding fiat money supply as Bitcoin’s primary growth catalyst for 2025. Jamie Coutts, chief crypto analyst at Real Vision, projects Bitcoin could surpass $132,000 before year-end due to monetary expansion. However, ongoing trade conflict concerns may continue to temper investor enthusiasm until international trade relations stabilize.
Bitcoin briefly surpassed $87,700 for the first time in nearly three weeks, coinciding with the U.S. Dollar Index touching its lowest level since March 2022. This dollar weakness potentially enhances Bitcoin’s appeal as a hedge against currency devaluation.
Despite recent market volatility, institutional adoption continues as Japanese and UK-based investment firms commit hundreds of millions to Bitcoin positions, potentially accelerating the asset’s four-year market cycle.
In addition, expectations of crypto-friendly regulation during the current Trump administration is also propping altcoins up while traders search for alternative investments or stores of value while fiat currencies and stocks struggle to sustain gains due to market uncertainty. Although markets continue to await actual updates such as progress on the “strategic crypto reserve” there have been indications that the administration is likely to pave the way for more developments in the industry.
