ETF capital "golden window" — $411 million net inflow and $53 million subtle divergence

According to SoSoValue data, on April 14th, Eastern Time, the total net inflow of U.S. spot Bitcoin ETFs was $411 million, with BlackRock's IBIT net inflow of $214 million leading, and ARKB net inflow of $113 million. This is one of the highest single-day net inflows in nearly a month, indicating that institutional funds are accelerating their return to the crypto market.

In terms of Ethereum spot ETFs, yesterday's total net inflow was $53.03 million, marking four consecutive days of net inflow, with FETH net inflow of $38.1 million and ETHA net inflow of $10.5 million. However, it is noteworthy that the net inflow scale of Bitcoin ETFs is nearly 8 times that of Ethereum ETFs, with funds still highly concentrated in leading assets.

Behind this divergence in capital flow, it reflects the risk appetite structure of institutions under the current macro environment — more inclined to allocate core positions in Bitcoin as "digital gold," while maintaining relative caution towards Ethereum and altcoins. Bitcoin's market share is currently 59.20%, up 0.10% from the previous day, while Ethereum's market share has decreased to 11.16%, down 0.19%, indicating that defensive funds are still concentrating on BTC.

If Bitcoin successfully breaks through and enters the price discovery phase, historical experience suggests this will drive the overall valuation center of the crypto market upward, with funds likely first concentrating on leading assets and then spilling over into other sectors.