US spot Bitcoin ETFs see $2.1B inflows in 8 days as IBIT leads
US spot Bitcoin ETFs logged eight straight days of net inflows totaling about $2.1 billion through April 23, the longest streak since the prior nine-day run in October 2025. Bitcoin price moved in tandem, up roughly 12% from around $68,000 to about $77,000.
BlackRock’s IBIT captured roughly 75% of the inflows, adding about $1.4 billion and taking holdings to 809,870 BTC (around 62% of total US spot ETF assets). On April 23 alone, net inflows were $223.21 million, with IBIT contributing $167.49 million. Fidelity’s FBTC was highlighted as a main outflow driver at about $16.93 million.
The article ties the buying demand to a broader risk-on backdrop after the Trump extension of the Iran ceasefire, and notes absorption may be outpacing supply: ETFs absorbed about 19,000 BTC while miner production was roughly 2,100 BTC over the period. Bitcoin dominance also moved above 60% for the first time this year.
For traders, the key watch is whether sustained spot Bitcoin ETF inflows can support a continuation move into and beyond the April 28–29 FOMC meeting, or whether macro uncertainty causes the streak to fade.
Bullish
Bullish for BTC because sustained spot Bitcoin ETF inflows ($2.1B over 8 days) indicate persistent institutional bid. IBIT’s ~75% share and the rising BTC dominance (>60%) suggest capital rotation toward BTC rather than the broader crypto market. The absorption-vs-supply angle (ETFs taking in far more BTC than miners produce) adds support for dips. In the short term, the next catalyst is macro—especially the April 28–29 FOMC meeting—which could either reinforce the risk-on backdrop and extend the inflow streak, or, if yields/liquidity concerns rise, slow inflows. Net effect: stronger-than-usual spot demand supports upside and resilience, keeping the setup generally positive for BTC.