U.S. Spot Bitcoin ETFs Post Eight-Day Inflow Streak Through April 23, Adding About $2.1 Billion

U.S. spot Bitcoin exchange-traded funds extended their inflow streak to eight straight trading days through April 23, adding about $2.1 billion over that stretch, according to multiple market outlets citing SoSoValue data. The latest session was led by BlackRock’s iShares Bitcoin Trust, or IBIT, underscoring a rebound in institutional demand through one of the market’s biggest channels for gaining Bitcoin exposure.

On April 23 alone, the funds posted net inflows of $223.21 million, according to multiple outlets citing SoSoValue, including TokenPost, 24/7 Wall St. and CoinCentral. Of that total, IBIT drew $167.49 million, or roughly 75% of the day’s inflows, those reports said. While some outlets gave slightly different cumulative totals depending on the measurement window, reports broadly put the eight-day haul at about $2.1 billion.

That matters because U.S. spot Bitcoin ETFs, which began trading in January 2024 after approval by the Securities and Exchange Commission, have become a major institutional gateway into the cryptocurrency market. Unlike products that only track prices indirectly, spot Bitcoin ETFs hold actual Bitcoin through the fund creation process. When inflows persist for days at a time, market participants generally read that as a sign of renewed buying pressure and tighter available supply.

Several reports citing SoSoValue-derived calculations said the ETFs absorbed roughly 19,000 Bitcoin over the eight trading days, though that conversion is not exact and can vary depending on the Bitcoin price used in the calculation. Even with that caveat, the buying appears to have outpaced new supply from miners by a wide margin. Since Bitcoin’s April 2024 halving, miner issuance has been about 450 Bitcoin per day — based on a 3.125 Bitcoin block reward and roughly 144 blocks a day — or about 3,600 Bitcoin over eight days.

The broader shift in sentiment has also been noticed by ETF watchers. Eric Balchunas, a Bloomberg ETF analyst, wrote on X that “Bitcoin ETFs flows are back in the high life.. every single rolling period we track is now positive, haven't seen that in months.” His comment captured the main takeaway from the latest streak: after a choppier stretch for fund flows, spot Bitcoin ETFs are again showing steady net demand, with BlackRock’s fund leading the latest day’s intake.