Exchange-traded funds (ETFs) focused on Bitcoin continued to record positive inflows, with net inflows of $173 million on Tuesday, April 29, marking the eighth consecutive day of gains. This strong performance was led by BlackRock's IBIT fund, which attracted $216.73 million in new capital alone, making it the dominant force in the market at this stage.
Despite some other funds recording outflows, such as Bitwise's BITB fund which lost $24.39 million, Ark 21Shares' ARKB fund which lost $13.32 million, and Fidelity's FBTC fund which registered outflows of about $6.24 million, the total inflows remained positive, boosting confidence in digital assets.
As a result, net assets in Bitcoin funds rose to a new record level of $110.17 billion, while trading volume reached $2.01 billion, indicating renewed interest from major financial institutions in investing in cryptocurrencies through regulated instruments.
Meanwhile, Ether funds also continued to gain for the fourth consecutive day, recording net inflows of $18.40 million. Fidelity's FETH fund was the standout, attracting $25.52 million in new investments, while Grayscale's ETHE fund experienced outflows of $7.12 million, with other funds remaining relatively unchanged.
The total trading on Ether funds amounted to $184.32 million, with managing assets increasing to $6.30 billion, reflecting a gradual improvement in sentiment towards digital assets, especially after a period of decline. The continuation of these inflows shows that the market is experiencing a strong return of institutional momentum towards investing in cryptocurrencies.
