- US-based spot Bitcoin ETFs saw their highest daily net inflows in the past 3 months on April 22.
- The surge comes after Donald Trump softened his rhetoric on Chinese tariffs, saying the US is going to be “very nice” and will reduce tariffs “substantially”.
US-based spot Bitcoin exchange-traded funds (ETFs) have seen their largest daily inflows since the inauguration of Donald Trump in January, with a total of US$913 million ($AUD1.4b) pouring into the funds on April 22.
Data from UK financial services firm Farside shows the ETFs with the largest inflows were the ARK 21Shares Bitcoin ETF (ARKB) with US$267.1 million (AU$420.1 million) and Fidelity Wise Origin Bitcoin Fund (FBTC) with US$253.8 million (AU$399.3 million) and BlackRock’s iShares Bitcoin Trust (IBIT) with US$193.5 million (AU$304.4 million).
The price of Bitcoin itself has also increased significantly in the past few days — data from CoinGecko shows it’s currently changing hands at US$93,640 (AU$147.2k). That’s a rise of over 11% from its value of just over US$84,000 on April 21.
The surge in investor interest in Bitcoin has coincided with President Trump’s recent softer messaging around tariffs, claiming the US is going to be “very nice” to China and reduce tariffs “substantially”.
Related: Saylor’s MSTR Buys 6,556 More Bitcoin as US ETFs Return to Inflows
Bitcoin ETFs Go Pac-man Mode, Says Analyst
Commenting on the huge ETF inflows Bloomberg’s Senior ETF Analyst, Eric Balchunas, said the funds had gone “pac-man mode” and noted they’d taken in a whopping US$1.2 billion (AU$1.88 billion) over the past week.
Balchunas also said it was good to see inflows spread across several of the large ETFs, rather than seeing one dominate. He added that in his opinion, the ETFs look “pretty strong all things considered”.
Bitcoin spot ETFs have been enormously successful since the first of them launched in January 2024, taking in a combined total of US$36 billion (AU$56.6 billion) in just 15 months.
However, since Trump returned to office in January 2025 many risk-on assets, including Bitcoin, have seen declines as uncertainty around tariffs has spooked investors. In just three days, from February 24 to 27, US-based spot Bitcoin ETFs saw outflows of well over US$2 billion (AU$3.1 billion) as tariff uncertainty peaked. Following Trump’s ‘Liberation Day’ announcement on April 2, the ETFs saw seven days straight of net outflows.
Related: “Going to Be Nice”: Crypto Surges After US Tariff Comments Boost Market Sentiment
The latest surge in ETF inflows seems to be largely driven by Trump’s backing away from his tough talk on tariffs. As his position has softened — particularly on China — investor interests in Bitcoin has returned. Treasury secretary, Scott Bessent, has also said that he expects a “de-escalation” in trade tensions between the US and China, adding he believes the negotiations will be a “slog”.
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