The U.S.-listed Spot Bitcoin exchange-traded fund (ETF) posted its biggest single-day inflow since January on April 17, as the reopening of the crucial Middle East route triggered a broad rotation in the market toward riskier assets.
As of April 17, 12 products had raised approximately $664 million in new capital, according to SoSoValue data.
The surge was prompted by Iran’s foreign minister’s announcement that the Strait of Hormuz had reopened to commercial shipping during the ceasefire period.
This development was subsequently confirmed by US President Donald Trump, alleviating immediate concerns about disruptions to global energy supplies.
This macroeconomic relief has triggered large daily allocations to Spot Bitcoin ETFs.
BlackRock’s iShares Bitcoin Trust (IBIT) led the way, absorbing $284 million on Friday alone. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $163.4 million, followed by the ARK 21 Shares Bitcoin ETF (ARKB) with $117.9 million.
Morgan Stanley’s newly launched MSBT fund also attracted $16.6 million during the session, showing early traction for the asset management giant’s bespoke product.
remains cautious
Despite the solid headline numbers, market analysts remain cautious about the structural integrity of Bitcoin’s current rally.
Digital asset analysis platform Ecoinometrics noted that while recent flows indicate active market participation, they lack the compounding momentum that would indicate a sustained breakout.
The company says it continues to see significant exodus from the industry, and the current environment in the market can be described as “participation without urgency.”
It was explained as follows.
“Daily data is inconsistent. Inflows and outflows are scattered, and more importantly, we don’t see the typical daily large inflows that indicate a strong wave of demand. If the rally is backed by conviction, the flows will concentrate and gain momentum. That hasn’t happened yet.”
Considering this, Ecoinometrics concluded that Bitcoin price is currently exactly in line with its baseline flow level and there is no sign that demand will push the market beyond that metric.
Analysts warned that any attempt by Bitcoin to sustain its gains remains vulnerable unless capital injections meaningfully accelerate and build consistent momentum.
Bitcoin ETFs record biggest weekly inflows since January
Meanwhile, the sharp rally on April 17 marked the asset class’s strongest weekly performance since January.
Buoyed by late-week gains, a range of U.S. ETFs attracted a total of $996 million in net inflows over five days. Notably, this is the highest weekly intake since the approximately $1.4 billion recorded in early January.
This huge harvest effectively reversed what started as a volatile trading week.
The period started with an outflow of $291 million on Monday, then the momentum changed, with gains of $411.5 million on Tuesday, $186 million on Wednesday, followed by a modest $26 million on Thursday.
Meanwhile, this was the third consecutive week of product inflows. During this period, the Fund withdrew approximately $1.7 billion in new capital.
At the time of writing, the total net assets of the Spot Bitcoin ETF as a whole exceeded $101 billion, with cumulative net inflows since inception reaching $57 billion.
(Tag Translation) Bitcoin
