Spot Bitcoin ETFs Record $381 Million in Inflows During Easter Holiday
US spot Bitcoin exchange-traded funds (ETFs) experienced their largest daily inflow since January, totaling $588.1 million. On Easter Monday, they recorded net inflows of $381.4 million, outperforming traditional equities amid a decline in the USD.
- ARK 21Shares Bitcoin ETF (ARKB) led with an inflow of $116.1 million.
- Fidelity's Bitcoin-backed ETFs received $87.6 million.
- BlackRock's IBIT had an inflow of $41.6 million.
Crypto Market Overview
During the Easter holiday, BTC traded above $80,000 while ETH dropped 4% to $1,581. A wallet linked to the Ethereum Foundation transferred 1,000 ETH to Kraken, raising concerns about price instability.
- The total crypto market cap increased by $800 billion, reaching $2.84 trillion.
- Shiba Inu's burn rate surged by 825%, with 26.48 million tokens burned.
In contrast, equities markets declined post-holiday: Dow Jones fell by 2.5%, and S&P 500 decreased by 2.4%.
- Strategy acquired 6,556 BTC for approximately $555.8 million at an average price of $84,785 per unit.
- Metaplanet purchased 330 BTC for around $28.2 million, increasing its holdings to 4,855 BTC, valued at $414.5 million.
- Metaplanet aims to expand its BTC holdings to 21,000 by 2026 at an average price of $85,386 per Bitcoin.