Overview:

• Bitcoin ETFs saw $85.04M inflows, pushing total AUM near $101B, while Blockchain Capital’s $700M raise signals renewed venture confidence.

• BitMine now holds nearly 5M ETH (4.12% supply), with 3.33M staked generating $221M annual yield

• Asteroid Shiba plunged 12% after massive gains, while Aave’s USDC pool hit 99.87% utilization, prompting urgent rate adjustments 

The crypto market experienced both institutional investments and asset purchases while all assets saw price fluctuations. Bitcoin ETFs recorded fresh inflows while large-scale ETH purchases and venture funding signals indicated institutional confidence.

Bitcoin ETFs Saw Inflows

According to SoSoValue, Bitcoin Spot ETFs saw a net inflow of $85.04 million yesterday. Fidelity's FBTC led the inflows with $56.69 million. 

Bitwise’s BITB saw the second-highest inflows with $15.43 million, followed by Ark & 21Shares ’ ARKB, which saw $11.91 million in net inflow.

Grayscale’s GBTC was the only ETF with outflows at $16.56 million.

The total net asset value of Bitcoin Spot ETFs is $100.98 billion, with an ETF net asset ratio of 6.57%. The historical cumulative net inflow has reached $58.08 billion.

Blockchain Capital to Raise $700 million

According to Bloomberg, Blockchain Capital is raising $700 million across two funds, which include its second growth fund and seventh early-stage fund. 

The move reflects improving venture sentiment after two years of uneven funding, where capital focused on infrastructure and stablecoins. A raise of this size indicates renewed institutional confidence in crypto investment.

The firm manages around $2 billion in assets and has backed major players like Coinbase, Circle, and Tether. 

Bloomberg noted that it could take 5-6 months to raise the capital. 

Also Read: Bitcoin Price Nears $80,000 as Market Momentum Strengthens 

BitMine Adds 100,000 ETH 

On April 20, BitMine announced that it acquired 101,627 ETH last week. At current prices, the acquisition is worth around $239 million.

The purchase lifted total holdings to 4.976 million ETH or 4.12% of the total circulating supply. 

According to Lookonchain, it seems that BitMine just bought another 100,000 worth $233.7 million. This would carry holdings to over 5 million tokens for the first time. 

That puts BitMine at 83% of the way to its goal of 5% of ETH’s supply. About 3.33 million coins are already staked, which produces around $221 million in annualized revenue.

Asteroid Shiba Plunged 12%

Asteroid Shiba declined 12% in the last 24 hours, trading around $0.00036. The drop comes as traders exit their positions after an explosive run, driven by retail interest and buzz around SpaceX. 

Early buyers made massive gains fast and cashed out. In just days, one wallet turned $575 into $1.17 million. 

After such gains, selling pressure follows naturally. Bitcoin dominance is also rising, pulling liquidity away from high-risk tokens and making it harder for meme coins to hold momentum. 

Despite the drop, Asteroid Shiba still holds a market cap above $160 million.

Also Read: Is Ethereum Turning Bullish After a Year-Long SuperTrend Flip?

Sanmar Herald Crypto Payment Claims Shut Down

The Shipping Ministry of India rejected claims that the captain of tanker Sanmar Herald paid cash or crypto to Iran for safe passage through the Strait of Hormuz. 

The ministry labeled the claims “fake news.” Sanmar Shipping Ltd issued an official statement labeling the reports “completely false.” 

Ministry’s additional secretary, Mukesh Manga, confirmed that no payments were made. “News is spreading about a reported payment by the captain of the vessel Sanmar Herald in US dollars to the representative of the Islamic Revolutionary Guard Corps (IRGC) Navy for passage, and had fallen victim to cyber criminals. We spoke with the owner of the vessel, and he confirmed that it is fake news and no such incident had happened,” he said.

Circle Proposes Rate Change

The stablecoin issuer, Circle, proposed an urgent proposal to restructure the interest rate parameters in the Aave V3 USDC pool. 

For the past four consecutive days, this measure has kept market utilization at an alarming 99.87% that responds to a liquidity paralysis. 

Circle proposes rate changes to break the financial stalemate caused by the KelpDAO exploit that occurred on April 18. 

Circle’s chief economist, Gordon Liao, stated that Aave’s current mechanism fails to balance supply and demand, keeping lending rates stuck at a 14% ceiling. 

FAQs

1. Why are Bitcoin ETF inflows important?

Bitcoin ETF inflows reflect institutional demand entering the market through regulated channels. Consistent inflows, like the recent $85M, often support price stability and signal long-term confidence from large investors.

2. What does BitMine’s ETH accumulation mean for the market?

Holding over 4.12% of the ETH supply indicates strong institutional conviction. Large accumulation can reduce circulating supply, increase staking dominance, and potentially impact price dynamics and network decentralization.

3. Why did Asteroid Shiba fall despite earlier gains?

The 12% drop is typical after parabolic rallies where early investors book profits. Rising Bitcoin dominance also pulls liquidity away from high-risk meme coins, weakening their short-term momentum.

4. What is happening with Aave’s USDC liquidity crisis?

Aave’s USDC pool reached 99.87% utilization, meaning nearly all liquidity is borrowed. This creates borrowing constraints, forcing protocol changes like interest rate adjustments to restore balance.

5. How significant is Blockchain Capital’s $700M raise?

A $700M raise across growth and early-stage funds signals strong venture appetite returning to crypto. It indicates confidence not just in startups but also in scaling mature blockchain companies.