Spot Bitcoin ETFs Pull $1.97 Billion in Biggest Monthly Surge Since November

US spot Bitcoin ETFs (exchange-traded funds) drew $1.97 billion in April, the best month of 2026 per SoSoValue. The total outpaced March’s $1.37 billion and reversed a soft start to the year.

The April rebound brought cumulative inflows since the products launched in early 2024 above $58 billion. Combined March and April demand offset January and February redemptions, returning the category to positive 2026 territory.

BlackRock IBIT Leads Bitcoin ETF Inflows

BlackRock’s iShares Bitcoin Trust (IBIT) accounted for the bulk of April flows, attracting roughly $2 billion in net subscriptions. The fund’s intake alone exceeded the category total, indicating other issuers collectively recorded modest outflows.

Grayscale’s Bitcoin Trust ETF (GBTC) extended a multi-quarter redemption pattern, shedding approximately $280 million in April.

Higher management fees relative to peers continue to push holders toward cheaper alternatives. The shift has shaped flows since the first wave of conversions in 2024.

Smaller issuers including Fidelity’s Wise Origin Bitcoin Fund posted mixed daily results. SoSoValue data showed several outflow days late in April. Combined redemptions reached around $490 million during a brief volatility spike.

Institutional Demand Returns After Soft Start

The April rebound reflected a shift in positioning after January and February outflows tied to profit-taking and macroeconomic uncertainty.

Bitcoin climbed about 12% during the month, briefly trading above $80,000. The move marked its strongest monthly gain since April 2025.

Sustained ETF demand reduced spot supply available on exchanges, helping absorb sell pressure from miners and short-term holders.

Corporate treasury buyers added to that pressure, with several public companies reporting fresh purchases throughout the month. The combined buying narrowed available float and contributed to the BTC price recovery above $80,000.

Daily inflow streaks have continued into early May, with multi-day runs adding more than $1 billion in single weeks. However, volatility persists, and isolated outflow days of several hundred million dollars remain part of the pattern.

Meanwhile, Ethereum ETFs also turned positive, drawing $356 million in April. The figure marked their first monthly inflow since October 2025. Total crypto ETF demand topped $2.3 billion across both products.

Whether the momentum holds depends on macro conditions, regulatory developments, and Bitcoin’s ability to defend the $80,000 zone.

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