Spot Bitcoin ETFs in the United States saw net inflows of $532 million on May 4, marking the third consecutive day of positive flows, while spot Ethereum ETFs recorded $61.29 million in net inflows on the same day, signaling broad institutional appetite for both assets rather than a Bitcoin-only positioning.
Three-Day Streak Reflects Institutional Conviction
The three-day streak carries significance beyond the headline number. In crypto ETF markets, multi-day inflows indicate that institutional buyers are treating a price move as an accumulation opportunity rather than a short-term trading event. Three consecutive days of positive flows at these volumes suggest coordinated conviction rather than point-in-time positioning.
Bitcoin surpassed the $81,000 threshold on Tuesday, reaching its highest level since January, driven by the $2.44 billion in ETF inflows throughout April, easing tensions with Iran, and a short squeeze. The sustained institutional buying creates steady demand, reduces available supply on exchanges, and compresses the selling pressure that typically follows sharp price moves.
April Marks Strongest Monthly Inflows Since October 2025
April's total net inflows into US spot Bitcoin ETFs reached $2.44 billion, the strongest monthly figure since October 2025. On Friday alone, approximately $630 million in net inflows entered the ETF complex before the weekend, with Fidelity adding $19 million to its FBTC product. Meanwhile, BlackRock's Bitcoin exchange-traded product (ETP) in Europe surpassed $1.1 billion in assets under management, holding 14,200 BTC as of May 4.
Ethereum ETFs Gaining Traction
Ether spot ETFs have been slower to attract the kind of sustained institutional flows that Bitcoin products have enjoyed since their launch in January 2024. However, the $61.29 million inflow on May 4 suggests that with ether trading well below its all-time high, institutional buyers see a relatively larger discount compared to Bitcoin. Whether this combination of lower price and growing ETF infrastructure can attract sustained inflows similar to what BTC experienced in October 2025 is the key question analysts are now watching.
If the inflow streak extends to a fourth consecutive day, the technical and fundamental arguments for continued upward price pressure could strengthen considerably.