Bitcoin ETFs pull $22.34 million in fresh inflows last week amid market volatility

Bitcoin exchange-traded funds (ETFs) attracted $22.34 million in fresh inflows last week, despite brutal market volatility and a shortened trading period that left many investors cautious about near-term direction.

Bitcoin inflows led by BlackRock’s IBIT

The inflows were driven primarily by BlackRock’s IBIT fund, which captured the largest share of investor cash while other Bitcoin ETF products saw weaker performance.

Market participants described the inflows as notable given that price swings reached double digits on some days. The shortened week also meant fewer trading hours, which made the reported figures stand out.

Ethereum ETFs see heavy outflows

Ethereum-focused ETFs, by contrast, recorded significant outflows. The sector lost $42.15 million as investors reduced exposure during the market turmoil.

BlackRock’s ETHA led the outflows, with redemption requests reportedly spiking on Tuesday and Wednesday as retail investors reacted to Ethereum’s price action. Selling pressure continued through Friday’s close. VanEck’s Ethereum Strategy ETF also experienced substantial outflows, with industry insiders describing the week as among the worst in months.

Altcoin ETFs also pressured

Solana and XRP products posted weak results as the broader altcoin selloff accelerated. Solana ETFs reportedly bled roughly $5 million, while XRP products struggled to attract buyers.

Traders cited not only the size of the declines but also the speed of the move as a key factor behind investor exits.

Fed Chair comments add to risk concerns

Jerome Powell’s remarks on April 5 contributed to renewed worries for risk assets. The Fed chair discussed possible rate hikes to address inflation, which reportedly sent shockwaves through crypto markets already under pressure.

At the time of the comments, Bitcoin was trading around $28,000 and Ethereum near $1,800. Traders said the timing worsened an environment already affected by technical selling, triggering additional declines across risk assets.

Mixed performance across major crypto funds

ProShares’ Bitcoin Strategy ETF reportedly stayed neutral during the volatility, with no major inflows or outflows—an outcome fund managers viewed as a sign that some investors were willing to hold steady.

Grayscale’s Bitcoin Trust was described as holding up better than its Ethereum-related products, which were said to have been “crushed” alongside other ether ETFs. Sources indicated Grayscale was working to reassure investors, but selling pressure was described as too intense to offset.

Cardano and Polkadot ETFs avoided the worst of the damage, suggesting some investors may have been looking for diversification within the crypto space. However, overall trading volume remained below normal levels.

What fund reports and industry statements said

Fidelity released a report on April 4 stating that Bitcoin remains popular with large institutional investors despite volatility, pointing to BlackRock’s IBIT performance as evidence that some “smart money” continues to see value in crypto assets.

CoinShares, in an April 5 update, highlighted the selective nature of last week’s flows, saying the $22.34 million Bitcoin inflows fit a broader pattern of investors choosing specific entry points rather than buying across the board.

The Ethereum Foundation issued a statement on April 3 regarding ether ETF outflows, saying officials are monitoring the situation closely and emphasizing ongoing network upgrades as a reason for optimism, without providing a timeline for when sentiment might improve.

CoinDesk reporting from April 2 suggested smaller crypto names such as Dogecoin and Litecoin saw little to no ETF activity, reflecting a shift toward larger, more established assets during uncertain conditions.

Broader institutional caution and regulatory uncertainty

As of April 6, fund managers were still assessing what comes next, with the market described as jumpy and lacking a clear catalyst to calm volatility. Trading volumes were reported as elevated, which typically signals continued risk of further swings.

The ETF landscape was also framed as reflecting broader institutional hesitancy toward digital assets during uncertain periods. Cambridge Associates data cited major pension funds and endowments reducing crypto allocations since March, while several family offices paused new crypto investments after Powell’s rate comments.

Regulatory uncertainty was described as another complicating factor. The SEC continues reviewing crypto ETF applications, while congressional hearings on digital asset oversight are scheduled for later this month. Industry lobbyists said the overlap between market volatility and pending regulatory decisions has increased investor anxiety.

Key figures

• Bitcoin ETF inflows: $22.34 million (week)
• Ethereum ETF outflows: $42.15 million (week)
• Solana ETF outflows: roughly $5 million (week)