In the ever-evolving landscape of cryptocurrency investment, Bitcoin ETFs are proving to be a hot commodity, with recent data revealing a surge in inflows to the tune of $31 million. This influx, observed on Tuesday, April 23, marks the second consecutive day of positive flows for these investment vehicles, signaling sustained investor interest in crypto exposure through regulated means.

Leading the charge in this latest wave of investment are industry behemoths like BlackRock’s iShares Bitcoin Trust (IBIT) and Ark 21Shares Bitcoin ETF (ARKB). BlackRock’s IBIT saw inflows of $37.9 million, while Ark 21Shares’ ARKB registered a net inflow of $33.3 million. Close on their heels is the Bitwise BTC ETF (BITB) with $23.2 million in inflows, showcasing a diverse range of options for investors seeking exposure to the crypto market.

However, not all ETFs experienced a smooth sailing on Tuesday. Fidelity’s Wise Bitcoin ETF (FBTC) faced a challenging day, recording only $4.4 million in inflows. Meanwhile, Grayscale Bitcoin Trust (GBTC) saw a notable uptick in outflows, surging to $66.9 million from $35 million the previous day.

Despite these fluctuations, Bitcoin ETFs have continued to make significant purchases, with three consecutive days of buying over 100% of the total BTC mined in a day after the Halving. Since last Friday, these ETFs have acquired 2,177 BTC, excluding the outflows from GBTC, which brings the total purchase to 4,468 BTC.

While the price of Bitcoin maintains a sideways trajectory, the activity within BTC ETFs remains robust. Factors such as Tether’s ongoing accumulation of Bitcoin and El Salvador’s daily acquisition of 1 BTC are anticipated to have a positive impact on Bitcoin’s price moving forward.

In parallel with the surge in ETF activity, there has been a notable uptick in adoption among Registered Investment Advisors (RIAs). Bitwise CEO Hunter Horsley recently highlighted the growing interest in BTC and crypto among RIAs, citing several instances where RIAs managing significant assets under management (AUM) have integrated digital assets into their portfolios.

BlackRock’s IBIT emerged as the frontrunner, boasting inflows of $37.9 million, closely followed by Ark 21Shares with a net inflow of $33.3 million. Bitwise BTC ETF (BITB) also made its mark with $23.2 million in inflows, underscoring sustained investor confidence in crypto markets.

However, not all players experienced smooth sailing. Fidelity’s Wise Bitcoin ETF (FBTC) encountered a challenging day, recording a modest $4.4 million in inflows. Meanwhile, Grayscale Bitcoin Trust (GBTC) saw a notable uptick in outflows, surging to $66.9 million from the previous day’s $35 million.

Despite the overall positive sentiment, net inflows for the 11 spot Bitcoin ETFs saw a decline of nearly 50% since the week’s inception. This dip can be attributed to factors such as decreased FBTC inflows and increased GBTC outflows.

Nevertheless, the demand for Bitcoin ETFs remains robust, with these investment vehicles collectively purchasing over 100% of the total BTC mined in a day after the Halving event. Excluding GBTC outflows, the net purchase amounts to a significant 4,468 BTC since last Friday.

Amidst the sideways trajectory of Bitcoin’s price, the active participation of BTC ETFs continues unabated. Factors such as Tether’s ongoing accumulation of Bitcoin and El Salvador’s daily acquisition of 1 BTC are anticipated to exert positive pressure on the cryptocurrency’s price in the near term.

These allocations include proposals for a 2% allocation to Bitcoin across all clients, with discretionary allocations ranging from 3% to 10%. Additionally, there are proposals for a 2.5% allocation to Bitcoin and crypto equities integrated into investment models, signaling a broader acceptance of digital assets within traditional investment frameworks.

Horsley also shared an email from a prominent RIA expressing their intention to utilize Bitwise investment solutions such as BITB, BITW, and BITQ, further underscoring the growing adoption of diversified digital asset investment strategies.

In conclusion, the recent surge in Bitcoin ETF inflows, led by industry giants like BlackRock and Ark, reflects a growing appetite for regulated exposure to the cryptocurrency market. Coupled with increasing adoption among Registered Investment Advisors, it’s evident that digital assets are becoming an integral part of investment portfolios for both institutional and retail investors alike.