On April 17, US-listed spot Bitcoin exchange-traded funds (ETFs) experienced their largest single-day capital inflow since January, reaching approximately $664 million. This surge was driven by the brief reopening of the Strait of Hormuz for commercial shipping, as announced by Iran’s foreign minister and confirmed by US President Donald Trump. The easing of concerns about global energy supply disruptions prompted investors to rotate into risk assets, including Bitcoin ETFs.
According to SoSoValue data, BlackRock’s iShares Bitcoin Trust (IBIT) was the top performer that day, attracting $284 million, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $163.4 million and ARK 21Shares Bitcoin ETF (ARKB) securing $117.9 million. Morgan Stanley’s newly launched MSBT fund also gained traction, pulling in $16.6 million.
Despite the significant inflows, analysts from Ecoinometrics advise caution regarding the rally’s sustainability. They observed that while market participation is active, it lacks the compounding momentum typical of a strong demand surge. The firm described the current environment as one of “participation without urgency,” noting inconsistent daily data with alternating inflows and outflows.
Ecoinometrics concluded that Bitcoin prices are currently aligned with baseline flow levels, lacking evidence of demand pushing beyond these metrics. Analysts warned that unless capital injections build consistent momentum, any sustained upward movement in Bitcoin may be fragile.
The inflow on April 17 marked the strongest weekly performance for US Bitcoin ETFs since January, culminating in $996 million in net inflows over five days—the highest since early January’s $1.4 billion. This surge offset a volatile trading week that began with a $291 million outflow but saw gains of $411.5 million on Tuesday and $186 million on Wednesday.
This was the third consecutive week of inflow for these products, which have drawn approximately $1.7 billion in new capital during this period. As of press time, total net assets across spot Bitcoin ETFs exceeded $101 billion, with cumulative net inflows reaching $57 billion since their inception.