As Stock Market Plummets, Funds Poured Into Bitcoin Spot ETF…Largest Inflow In 3 Months

While the US stock market showed a plummeting trend, Bitcoin Spot Exchange Traded Funds (ETF) experienced the largest fund inflow since January. The cryptocurrency market, unlike the trembling stock market, showed relative strength, attracting investor funds.

According to the aggregation of on-chain analysis platform Coinglass, on April 21, there was a net inflow of $381.3 million (about 541.6 billion KRW) into 11 Bitcoin spot ETF products in the US in one day. This is the largest inflow since March and the second largest figure this year since the $588.1 million recorded on January 30.

The product that attracted the most funds was Fidelity's ‘FBTC’, with an inflow of $87.6 million in one day. It was followed by ARK 21Shares ETF with $116.1 million, and the combined net inflow of Grayscale's GBTC and Mini Trust ETF recorded $69.1 million. BlackRock’s ‘IBIT’ also continued the trend by attracting $41.6 million.

This net inflow coincides with the day when the stock market fell sharply due to tariff policies led by President Trump and conflicts with the Federal Reserve (Fed), attracting more attention. President Trump strongly pressured for rate cuts on his SNS ‘Truth Social’ that day, leading to a drop of over 2.4% in Dow Jones, S&P500, and Nasdaq.

The cryptocurrency market, on the contrary, showed relative stability as the total market cap increased by $800 billion during the Easter holiday to a total level of $2.84 trillion. The market cap of Bitcoin exceeded $1.75 trillion, reaching the highest level since March, and the price surged past $88,500, marking the highest level in four weeks.

The market interprets this trend as a signal that the inflow of institutional funds through ETF is supporting the lower price band of cryptocurrencies. Coupled with the instability of the traditional asset market, Bitcoin is being highlighted again as a kind of hedge.