Crypto exchange-traded funds (ETFs) have recorded their largest one-day inflow since October, as market participants cautiously adopt a risk-on approach. Bitcoin led the charge, outperforming traditional assets, with significant inflows also seen in Ethereum and Solana ETFs. This surge in ETF activity is likely a short-term positioning strategy ahead of key macroeconomic events, including the Federal Open Market Committee (FOMC) meeting and upcoming inflation data releases. Despite the substantial inflows, analysis of assets under management (AUM) relative to market capitalization indicates that recent ETF growth has been primarily driven by price appreciation rather than sustained capital inflows. This suggests that while investor interest is high, the underlying market dynamics are influenced more by price movements than by new investments.