Bitcoin ETFs post strongest inflows since February

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Bitcoin ETFs post strongest inflows

Highlights

Spot BTC ETFs attracted $471.4 million on April 6, the best daily result since February 25.
BlackRock, Fidelity, and Ark & 21Shares accounted for about 95% of the total inflow that day.
ETH ETFs received $120.2 million, their best day since March 17, ending a two-day outflow streak.
On-chain data remains weak: BTC apparent demand is still negative, and whales continue to distribute holdings.

Inflows returned, but almost all of them went to three funds

According to SoSoValue, most of the April 6 inflow came from BlackRock’s iShares Bitcoin Trust (IBIT), which brought in $181.9 million, Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $147.3 million, and ARKB from Ark & 21Shares with $118.8 million. Together, these three funds accounted for about 95% of the day’s total. None of the tracked Bitcoin ETFs posted net outflows that day: six funds ended the session in positive territory, while the rest closed flat. Total cumulative net inflows since launch reached about $56.4 billion.

The picture also improved for Ethereum funds. Spot Ether ETFs took in about $120.2 million on April 6, their strongest daily inflow since March 17, when the figure stood at $138.2 million. This result ended a two-day streak of outflows. The main contribution came from BlackRock’s ETHA with $60.8 million and Fidelity’s FETH with $40.1 million.

ETFs are buying, but the blockchain still does not confirm a turnaround

A strong day for ETFs does not necessarily mean that the broader market has already turned. According to CryptoQuant, as of April 1, Bitcoin’s 30-day apparent demand remained at minus 63,000 BTC, meaning spot demand is still deep in contraction despite faster buying from ETFs and Strategy.

Large holders are adding further pressure. Wallets holding 1,000 to 10,000 BTC have shifted over the past year from accumulation to net distribution, and the scale of that selling has become one of the most aggressive on record. The market is “thinning from within”: institutional buying through ETFs is no longer fully offsetting sales by existing holders.

A signal for Wall Street, but not a final market reversal

The institutional channel has become active again, even if underlying market demand has not shown the same improvement.

For Wall Street, this is an important signal: capital is returning to regulated crypto products, primarily to the largest funds run by BlackRock and Fidelity. But for Bitcoin itself, the crossroads remains the same.

As long as 30-day demand stays negative and large holders keep selling, ETF inflows may support prices, but they do not guarantee a sustained breakout from the current sluggish and unstable environment.

It was earlier reported that Bitcoin holds near $68,600 ahead of Iran deadline.

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