Spot Bitcoin ETFs Net $1.97B in April; BlackRock’s IBIT Leads

Spot Bitcoin exchange-traded funds collected $1.97 billion in net inflows in April, with BlackRock’s iShares Bitcoin Trust (IBIT) attracting roughly $2 billion, a level that surpassed the entire category and implied net outflows at other issuers, data from SoSoValue show.

April marked the largest month for spot Bitcoin ETF inflows in 2026 and raised cumulative flows since the ETFs launched in early 2024 to more than $58 billion. Combined demand in March and April offset net redemptions in January and February and returned the category to positive territory for the year.

Grayscale’s converted Bitcoin Trust ETF (GBTC) continued to see redemptions, losing about $280 million in April as investors moved into lower-fee alternatives. Smaller issuers recorded mixed results; Fidelity’s Wise Origin Bitcoin Fund registered varying daily flows and several funds reported outflow days late in the month. During a brief surge in volatility, combined redemptions across some providers reached roughly $490 million, according to SoSoValue.

Bitcoin rose about 12% in April, briefly trading above $80,000. The rise coincided with heavy ETF buying and additional purchases by several public companies for their corporate treasuries, which reduced spot supply on exchanges and helped absorb selling from miners and short-term holders.

ETF inflow streaks continued into early May, with multi-day runs adding more than $1 billion in several single-week stretches. May 7 saw an inflow of about $1.05 billion, the largest daily intake in more than three months. Volatility persisted, however, and some isolated outflow days of several hundred million dollars occurred.

Spot Ethereum ETFs also returned to positive territory in April, drawing about $356 million-their first monthly inflow since October 2025. Total demand for spot crypto ETFs across Bitcoin and Ethereum topped roughly $2.3 billion for the month.

Future flows will be affected by macroeconomic conditions, regulatory developments, Bitcoin’s ability to hold key price levels such as $80,000, and fee competition among funds.