PANews reported on April 16 that Matrixport released its latest report saying that in 2025, the net inflow of funds into Bitcoin ETFs will be only slightly above zero, despite a strong performance at the beginning of the year, with an inflow of nearly $5.5 billion. This phenomenon is quite unexpected, as Bitcoin has outperformed US technology stocks this year, and gold has also hit a record high. It is worth noting that the total net inflow of Bitcoin ETFs was $35.5 billion, of which BlackRock accounted for $39.6 billion and Fidelity accounted for $11.4 billion, accounting for the vast majority of the total. In contrast, inflows from other ETF issuers are relatively limited. This suggests that the current buying is more likely to come from a specific group of institutional clients rather than being driven by broad retail funds - if the latter, inflows will be more evenly distributed among various ETF providers.