Crypto Funds Add $1.4B as Bitcoin Clears Two-Month Range

Regionally, the U.S. dominated with $1.5 billion of inflows, CoinShares analysts noted, with Germany adding $28 million. Switzerland, however, was a notable outlier with $138 million in outflows—the largest Swiss outflow since November 2025, marking a sharp divergence from the broader risk-on tone.

ETFs’ bumper week

Last week, U.S. spot Bitcoin ETFs saw inflows of nearly $1 billion, per SoSoValue data, with net inflows of $663.9 million on Friday alone—the highest daily total since mid-January.

“As more wealth management platforms activate Bitcoin ETF access—Morgan Stanley being the latest and Goldman Sachs having filed one week later—a growing share of available supply will be captured by these vehicles,” Dessislava Ianeva, analyst at Nexo, told Decrypt. “That demand does not require a macro catalyst to persist. It is built into the distribution infrastructure now being assembled across Wall Street.”

Ianeva noted that the broadening of inflows beyond Bitcoin ETFs alone is notable. Over twelve trading days in April, Bitcoin and Ethereum ETFs attracted simultaneous inflows at a roughly four-to-one ratio: $1.6 billion and $385 million, respectively, a pattern that has historically preceded wider market participation.

What’s driving inflows?

Bitcoin’s ascent and the subsequent flows reflect continued risk appetite recovery driven mostly by U.S.-Iran ceasefire extension talks and improving liquidity, and better-than-expected inflation numbers for March, Decrypt previously reported.

Miners produce roughly 450 BTC per day post-halving, Ianeva noted, while ETFs have been absorbing multiples of that in net daily demand. “As more wealth management platforms activate Bitcoin ETF access, a growing share of available supply will be captured by these vehicles, providing support for prices.”

Despite the rally, experts remain skeptical, underscoring the importance of geopolitical and macro policy headlines, which could sway risk appetite with ease. Moreover, investors rebalancing their portfolios amid U.S. tax season in April could also extend Bitcoin's sideways movement.