ETF Funds “Golden Window” — $411 Million Net Inflow and a $53.10 Million Subtle Divergence

According to SoSoValue data, on April 14 in U.S. Eastern Time, the total net inflow of U.S. Bitcoin spot ETFs was $411 million. Among them, BlackRock’s IBIT had a net inflow of $214 million, the highest, while ARKB had a net inflow of $113 million. This is one of the highest levels of single-day net inflows in the past month, showing that institutional funds are accelerating their return to the crypto market.

As for Ethereum spot ETFs, yesterday’s total net inflow was $53.03 million, and net inflows have been recorded for 4 consecutive days. Among them, FETH saw a net inflow of $38.10 million and ETHA saw a net inflow of $10.50 million. However, it is worth noting that the net inflow magnitude of Bitcoin ETFs is nearly 8 times that of Ethereum ETFs, and capital remains highly concentrated in leading assets.

Behind this divergence in capital flows is a reflection of how institutions’ risk appetite is structured under the current macro environment—greater inclination to allocate Bitcoin as a core holding of “digital gold,” while remaining relatively cautious toward Ethereum and altcoins. Bitcoin’s market share is currently 59.20%, up 0.10% from the previous day, while Ethereum’s market share has fallen to 11.16%, down 0.19%. Defensive capital is still concentrating toward BTC.

If Bitcoin successfully breaks through and enters the price discovery stage, historical experience suggests this will lift the overall valuation center of the crypto market. Funds may first concentrate in leading assets, and then spill over into other sectors.
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