TLDR
Bitcoin ETFs have recorded seven consecutive days of net inflows totaling over $3.75 billion
BlackRock’s IBIT had its second-best day ever with $970.9 million in inflows on April 28
Total Bitcoin ETF assets have rebounded to $109.3 billion, up from $85.7 billion on April 8
Ethereum ETFs are also showing signs of recovery with three consecutive days of inflows
Grayscale met with SEC to advocate for allowing Ethereum ETPs to participate in staking
Bitcoin ETFs are experiencing a strong revival as investors pour billions into these investment vehicles. The past week has marked an impressive streak of seven consecutive days of net inflows, totaling over $3.75 billion according to recent data.
BlackRock’s IBIT fund led the charge with an eye-catching $970.9 million in net inflows on April 28 alone. This represents the fund’s second-best day ever, only surpassed by the $1.1 billion it attracted just after the US elections on November 7.
The strong performance of BlackRock’s Bitcoin ETF is even more striking when compared to its competitors. While IBIT thrived, most other Bitcoin ETFs experienced outflows on the same day, including products from Fidelity, Bitwise, Ark Invest, and Grayscale.
IBIT has now grown its assets under management to over $42 billion. Since its launch in January 2024, the fund has attracted an average daily inflow of $130.2 million.
Market Recovery
The recent string of inflows marks a change in investor sentiment. This seven-day streak of positive flows began on April 17, ending weeks of outflows that many market watchers linked to President Trump’s escalating trade war tensions.
Total assets managed by Bitcoin ETFs have now climbed above $109.3 billion. This represents a 26.4% recovery from the local low of $85.7 billion recorded on April 8.
This seven-day inflow streak is the longest since March, when funds saw consistent inflows from March 14 through March 27. The current streak includes the second-largest weekly inflow on record, with $3.06 billion entering Bitcoin ETFs during the week ending April 25.
Damn. ETFs are in two steps fwd mode after taking one step back, which is the pattern we predicted from the get-go. https://t.co/bNRorN3qMf
— Eric Balchunas (@EricBalchunas) April 29, 2025
The price of Bitcoin has responded positively to this influx of institutional capital. During this same seven-day period, BTC gained approximately 7.5% in value.
Ethereum ETFs Show Signs of Life
Ethereum ETFs are also beginning to show signs of recovery after facing their own challenges. These newer funds have now recorded three consecutive days of net inflows, their longest positive streak since mid-February.
Over these three trading days (April 24, 25, and 28), Ethereum ETFs attracted $231.8 million in new capital. BlackRock’s ETHA fund led the way once again with particularly strong performance on April 28, when it attracted $67.5 million.
This marks ETHA’s best day since February 4, when it recorded an impressive $276.2 million in inflows. Ethereum ETFs now manage $6.2 billion in assets, up from an all-time low of $4.98 billion on April 4.
The recovery remains modest compared to the sector’s peak of $14.3 billion reached on December 16 last year. Notably, on April 28, BlackRock’s offerings dominated the market with both its IBIT and ETHA funds accounting for all inflows to U.S. crypto ETFs.
Interest in Hong Kong-based spot Bitcoin ETFs continues to decline, with the most recent recorded flow being an outflow of 7.91 BTC on April 17. This contrasts sharply with the growing demand seen in the US market.
Grayscale, another major player in the crypto ETF space, is pushing for regulatory changes that would benefit Ethereum ETF holders. The firm recently met with the SEC’s Crypto Task Force to advocate for allowing Ethereum exchange-traded products to participate in staking.
According to Grayscale’s estimates, US-based Ethereum ETP providers could miss out on $5.5 billion worth of ETH staking rewards over the next decade if current prohibitions remain in place. The company claims that ETH ETPs have already foregone approximately $61 million as a result of not being able to participate in staking from launch through February 2025.
These rewards have instead gone to non-US ETH ETPs and other non-ETP stakers, creating a competitive disadvantage for US-based products.
The recent positive trends for both Bitcoin and Ethereum ETFs come as the crypto market shows signs of stabilization following weeks of volatility tied to global economic concerns.
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