Investor sentiment toward Bitcoin ETFs is rebounding sharply, with U.S.-listed spot Bitcoin funds recording a combined $912 million in net inflows on April 22—the largest single-day inflow since January 21, according to data from Farside Investors.
The surge was led by institutional giants: the ARK 21Shares Bitcoin ETF (ARKB) saw an inflow of $267.1 million, followed closely by Fidelity’s Wise Origin Bitcoin Fund (FBTC) at $253.8 million, and BlackRock’s iShares Bitcoin Trust (IBIT) with $193.5 million.
This significant uptick comes after a lull marked by geopolitical instability and concerns over U.S. trade policy. Analysts attribute the renewed confidence to improving macroeconomic conditions, a softening U.S. dollar, and a broadening market recovery that has seen Bitcoin push past $94,000 for the first time in over seven weeks.
The $912 million in inflows places April 22 among the top ETF activity days since the products launched in early January—signaling that institutional appetite for Bitcoin is heating up again after weeks of hesitation and net outflows.
Earlier this month, sweeping new tariffs announced by President Donald Trump weighed on market sentiment. But with trade tensions now showing signs of easing and crypto prices recovering, ETFs are once again becoming the go-to instrument for regulated Bitcoin exposure.
Dollar Weakness and ETF Surge Push Bitcoin Into Safe-Haven Spotlight
Bitcoin’s renewed ETF momentum is riding on another macro tailwind: a rapidly declining U.S. dollar. As the greenback weakens, analysts say Bitcoin is increasingly shedding its “tech asset” identity and emerging as a macro hedge on par with gold.
The U.S. Dollar Index (DXY) has dropped nearly 9% in 2025, hitting a three-year low of 98.8—a level last seen in April 2022. The slide comes amid persistent concerns over trade disputes, slowing growth, and potential recession risks, prompting investors to seek refuge in non-sovereign, deflationary assets.
Ryan Lee, chief analyst at Bitget Research, noted that “macroeconomic stressors like dollar depreciation and rising correlation with gold are reinforcing Bitcoin’s role as a safe-haven asset. These dynamics are pulling institutional capital back into BTC.”
Iliya Kalchev of Nexo added:
“Bitcoin’s strength amid a weakening dollar, record-high gold prices, and renewed institutional buying reflects a market recalibrating what safety looks like. Bitcoin is no longer just a tech proxy—it’s now a macro barometer.”
Nansen CEO Alex Svanevik echoed the trend, observing that Bitcoin is “behaving less like Nasdaq, more like gold,” marking a notable shift in how institutions perceive digital assets in the global financial landscape.
Meanwhile, Arthur Hayes, co-founder of BitMEX, offered a bold prediction: the current price range may be the final opportunity to buy Bitcoin under $100,000. Hayes pointed to expected U.S. Treasury buybacks—viewed by some as a form of stealth quantitative easing—as a potential trigger for the next explosive leg upward.
Quick Facts
- U.S. spot Bitcoin ETFs recorded $912 million in inflows on April 22—the highest daily inflow since Jan. 21.
- ARKB led with $267.1 million, followed by FBTC ($253.8M) and IBIT ($193.5M).
- Bitcoin surpassed $94,000 for the first time in over seven weeks.
- A weaker U.S. dollar and easing trade tensions are fueling renewed institutional demand for Bitcoin.
