Spot Bitcoin ETFs registered $442 million in net inflows on April 24, marking five consecutive trading days of positive flows and pushing the cumulative inflow above $2.5 billion for the week.
What Happened: Blackrock‘s (NASDAQ:IBIT) led the inflows with $327.2 million, followed by Ark & 21Shares (CBOE: ARKB) at 97 million.
Ethereum ETFs also saw a net inflow of $63.4 million, although Grayscale‘s (NYSE:ETH) recorded an outflow, according to data from SoSo Value.
Speaking with Benzinga, Matteo Greco, Senior Associate & Digital Asset Analyst at Fineqia, attributes the surge to both long- and short-term investor interest but emphasizes the structural tilt of ETFs toward long-term capital.
“Even during the recent 30% drawdown from Bitcoin’s all-time high, ETF outflows represented only about 15% of total inflows since inception,” Greco said. “This suggests strong long-term conviction among ETF investors.”
The expiry of over $15 billion in Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) options on Thursday appears to have cleared a major overhang in derivatives markets.
Bitfinex analysts noted that the put-to-call ratio of 0.73 and a maximum pain point at $86,000 suggested bullish sentiment.
The clearing of open interest above $90,000 reset market gamma pressure, and the lack of sharp selling afterward indicates bulls retained control.
Funding rates remain moderately positive, averaging between 0.01% and 0.03% across major exchanges, implying continued long bias without excessive leverage.
Despite a slight drop post-expiry, open interest remains elevated at over $32 billion, with most positions rolled forward rather than unwound.
Even during minor price pullbacks, funding rates briefly turned negative, suggesting traders were overly eager to short.
This likely contributed to the short squeezes witnessed throughout the week.
Also Read: If Bitcoin Breaks $100K, This CEO Will ‘Gladly Admit’ Being Wrong About A Bear Market
Why It Matters: Bitfinex analysts say the market is “cautiously bullish” with the $90,000 options cluster cleared.
New call positions are forming at $95,000 and $100,000 for end-of-April and May expiries, indicating traders expect a continued but potentially choppy move higher.
Bitcoin was trading at $94,250 on Friday morning in Europe, up 2% on the day.
Ethereum rose 2.5% to $1,785.
Major altcoins also advanced, with Solana (CRYPTO: SOL) and Dogecoin (CRYPTO: DOGE) each up over 5% in the last 24 hours.
Meanwhile XRP (CRYPTO: XRP) and BNB (CRYPTO: BNB) are each trading up around 1% in trade.
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