Investor sentiment has improved significantly over the past ten days following the ceasefire announcement between the United States and Iran. This shift has translated into strong inflows into exchange traded funds tied to major cryptocurrencies.
After a prolonged period of weak performance, spot crypto ETFs have recorded their strongest weekly inflows since mid January.
Bitcoin ETFs See Strong Comeback
According to data from SoSoValue, April 17 marked the best day for Bitcoin ETF inflows since January 14, with more than $663 million entering the funds. BlackRock’s IBIT led with $284 million, followed by Fidelity’s FBTC with $163.4 million.
This surge was likely driven by optimism surrounding developments in the Middle East, particularly announcements about the reopening of the Strait of Hormuz.
For the week, total inflows came close to $1 billion, making it the strongest five day performance since mid January. The only outflow occurred on Monday, when $291.11 million exited the funds. The rest of the week saw consistent gains, with inflows of $411.50 million on Tuesday, $186.03 million on Wednesday, and $26.05 million on Thursday.
Ethereum ETFs Follow the Trend
Ethereum related ETFs also posted strong results, recording $127.49 million in net inflows and extending their positive streak to seven consecutive days. The total for the week reached $275.83 million, the highest level since mid January.
Fidelity’s FETH led Ethereum inflows with more than $84 million, followed by BlackRock’s ETHA with $30.8 million. Grayscale’s ETH fund trailed behind with $5.8 million.
XRP and Solana Funds Gain Momentum
Funds tracking XRP also reached a three month high, bringing in more than $55 million over the past week. Meanwhile, Solana based funds attracted $35.17 million, marking a two month high, although still below the $44.4 million recorded in late February before the conflict escalated.
While these inflows reflect renewed confidence across the crypto market, they were largely driven by easing geopolitical tensions. However, recent conflicting statements from US and Iranian officials regarding negotiations and the status of the Strait of Hormuz have reintroduced uncertainty.
With only a few days remaining in the ceasefire agreement, market volatility could increase again, potentially impacting demand for cryptocurrency investment products.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
