In brief
- Bitcoin ETFs logged $381.4 million in net inflows Monday, the biggest single-day gain since January 30
- Inflows were led by ARKB and FBTC.
- Analysts said Bitcoin is acting more like a macro asset as institutions return.
Bitcoin exchange-traded funds (ETFs) just notched their strongest single-day performance in nearly three months, with institutional money pouring back into the space after weeks of muted flows.
On Monday, Bitcoin ETFs collectively recorded $381.3 million in net inflows, their largest daily total since January 30, as per data from UK-based investment management firm Farside Investors.
The inflows mark a notable shift after weeks of lukewarm demand, driven by macro uncertainty and tightening liquidity.
Leading the pack was ARK 21Shares’ ARKB, which pulled in $116.13 million, while Fidelity’s FBTC followed closely with $87.61 million. Both funds now sit at $2.6 billion and $11.37 billion in total net inflows, respectively.
Institutional appetite for Bitcoin bounces back
The inflows signal a resurgence in institutional appetite for Bitcoin, following a mid-April lull where digital asset products posted just $6 million in net inflows for the week, with U.S. vehicles experiencing $71 million in outflows, as per the latest report from digital investment company Coinshares.
The report noted that the U.S. alone recorded $71 million in outflows, while Switzerland, Germany, and Canada saw combined inflows of $75.4 million pointing to regional sentiment divergence.
CoinShares’ Head of Research James Butterfill described the latest inflows as a sharp reversal from recent pessimism, noting that Bitcoin ETPs “recorded their largest single-day inflow since February 2nd”—a $364 million surge that followed more than $5 billion in cumulative outflows.
He told Decrypt that the move marks a “significant improvement in investor sentiment,” driven largely by shifting expectations around monetary policy.
Butterfill also pointed to a growing political dimension behind the rally, noting that “growing speculation that the Federal Reserve Chair’s position may be under threat following comments from the Republican Party,” contributed to the rally in Bitcoin’s price.
Monday’s spike may mark a pivotal shift for crypto ETFs, especially Bitcoin spot products, which have seen choppy flows since their long-awaited U.S. approval last January.
Bitcoin behaving like a macro asset
Analysts argued that Bitcoin is increasingly behaving like a macro asset, moving in sync with broader market cycles.
“Crypto used to move to its own beat, but now it’s dancing more to the rhythm of global markets,” Anthony Georgiades, Founder and General Partner at crypto VC firm Innovating Capital told Decrypt.
“With ETFs, hedge funds, and big asset managers all stepping in… Bitcoin is being treated like part of the broader risk asset mix,” Georgiades said.
Georgiades added that macro forces, such as Japan’s yen carry trade, are increasingly influencing Bitcoin’s trajectory.
“When the carry trade unwinds, those same funds start trimming risk—and that can trigger waves of selling in assets like Bitcoin that have become tied into global portfolios,” he said.
And while gold has climbed over 19% in six months amid geopolitical tensions, Bitcoin’s recent resilience is drawing comparisons.
“Bitcoin has been surprisingly resilient throughout the trade war,” said Alex Svanevik, CEO of onchain analytics platform Nansen. “The ongoing positive news flows—notably the Treasury looking for ways to swap reserves into Bitcoin—have likely helped.”
Still, Svanevik warned: “Bitcoin remains a risky asset… We expect gold to be more resilient if recession odds rise.”
As of now, Bitcoin’s price is trading at $88,585, an increase of 1.5% over the past 24 hours, according to CoinGecko.
Users of Myriad, the decentralized prediction market launched by Decrypt’s parent firm DASTAN, forecast a 72.4% probability that Bitcoin will trade above $87,000 by the end of Wednesday.
Bitfinex analysts suggested the market could be nearing an inflection point in a note to Decrypt, arguing that the rest of the year hinges on key catalysts.
“If ETF flows resume, new narratives take hold… and regulatory rules become clearer, the second half of 2025 could mark the beginning of a strong cyclical advance,” they said.
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