U.S. spot Bitcoin ETFs recorded $629.8 million in net inflows on May 1, lifting cumulative net inflows since their January 2024 launch to $58.72 billion, according to data compiled by Farside Investors. The figure marked the strongest single-day result in weeks and pushed April’s monthly total to roughly $2.44 billion — almost double the $1.32 billion logged in March.
BlackRock’s iShares Bitcoin Trust dominated the session with $284.4 million in fresh capital, while Fidelity’s FBTC added $213.4 million. Across all issuers, no fund recorded outflows on the day. Total assets across U.S. spot Bitcoin ETFs climbed to nearly $102 billion by the end of April, with iShares alone capturing more than 70% of monthly flows.
The buying coincided with BTC reclaiming the $79,000–$80,000 range after a months-long descent from its October peak near $125,000. The cumulative inflow figure remains shy of the $61.19 billion record set last October, per CoinDesk, suggesting the recovery in ETF demand is real but still incomplete.
Analysts at Bernstein noted in a recent client note that the pace of fresh capital indicates new money entering the asset class rather than rotation between existing products. Michaël van de Poppe flagged $79,000 as the level that has to give way for momentum to extend toward the $86,000–$88,000 zone, with $92,000–$94,000 as the more meaningful ceiling. Without a clean break, support sits in the mid-$70,000s.
The seven-day average inflow now sits near $280 million per day, a pace last seen during late 2024. With cumulative flows rebuilding and exchange-held BTC reserves at multi-year lows, ETF demand remains the most consistent structural bid in the market heading into the second quarter.
