U.S. spot Bitcoin ETFs recorded approximately $2.44 billion in net inflows during April 2026, marking the category’s strongest month since October 2025 and nearly doubling March’s $1.32 billion, according to data compiled by SoSoValue. The April total pushed cumulative lifetime inflows across all U.S. spot BTC ETF products past $58.5 billion since their January 2024 launch, with total assets under management reaching roughly $102 billion.
BlackRock‘s iShares Bitcoin Trust (IBIT) captured the bulk of the month’s flows, adding between $2.1 billion and $3 billion and bringing the fund’s holdings to roughly 812,000 BTC, valued near $62 billion. Fidelity‘s Wise Origin Bitcoin Fund (FBTC) was the second-largest contributor, with a nine-day inflow streak totaling about $2.12 billion.
Bloomberg Intelligence analyst Eric Balchunas noted in a recent post that net flows have turned positive across every rolling timeframe he tracks for the first time in months. Morgan Stanley‘s newly launched MSBT, which began trading on April 8, recorded $163 million in inflows with no outflow days — a sign of fresh demand rather than rotation between issuers. Cumulative GBTC outflows have stabilized near $26.28 billion, suggesting most of the migration out of Grayscale’s higher-fee product is now complete.
Momentum cooled in the final week of the month. ETFs posted three consecutive sessions of outflows ending April 29, with daily net redemptions of $137.77 million that day, led by IBIT (-$54.73M) and FBTC (-$36.13M). Spot Ethereum ETFs lost $87.73 million the same session. The pullback coincided with BTC retreating toward $76,200 as the Federal Reserve held rates and removed dovish language from its statement.
Even with the late-month dip, April produced a clear demand signal. BTC rallied between 12% and 16% during the month on heavy ETF buying that, on multiple sessions, absorbed more supply than daily mining output. April reset year-to-date flows into positive territory after first-quarter outflows.
For investors, the takeaway is two-sided. Sustained inflows into May will depend on whether BTC holds the $76,000–$77,000 range that prediction markets currently price at roughly a 64% probability, and on whether the Fed shifts its tone at the next FOMC meeting. A break below this band could quickly invert the flow picture, as the late-April outflow cluster has shown.
