The week of April 27 to May 1 proved volatile for crypto exchange-traded funds (ETFs), ending with a decisive surge in bitcoin inflows that reversed an early slump. Bitcoin spot ETFs recorded net inflows of $162.8 million, with BlackRock’s IBIT dominating the picture at $136.6 million in net additions.
Bitcoin ETFs: Late-Week Rally Saves the Week
The first three sessions saw consistent outflows as profit-taking followed a prior rally. However, on Friday, a massive $630 million single-day inflow turned the weekly balance positive. Beyond IBIT, Ark & 21Shares’ ARKB added $50.1 million, Fidelity’s FBTC gained $48.5 million, and Morgan Stanley’s MSBT drew $15.3 million. On the outflow side, Grayscale’s GBTC shed $73.6 million, while VanEck’s HODL, Franklin’s EZBC, and Invesco’s BTCO also recorded redemptions. Daily trading volumes consistently exceeded $1 billion, indicating reallocation rather than market exit.
Ether ETFs: $82M Outflows Reflect Caution
Ether ETFs extended their cautious trend with net outflows of $82 million. BlackRock’s ETHA saw $71.45 million in outflows and Fidelity’s FETH lost $50.26 million. Partially offsetting these, BlackRock’s ETHB product attracted $44.50 million on select days. Overall sentiment for ether remained fragile, with investors less eager than their bitcoin counterparts.
XRP and Solana ETFs: Minimal Activity
XRP ETFs posted a marginal net outflow of $35,000, effectively flat. Solana ETFs recorded net outflows of $1.2 million, with several sessions showing zero trading activity. These products remain on the periphery, awaiting stronger catalysts.
Outlook: Divergence Persists
The week underscores a market in transition: bitcoin commands bulk institutional attention, ether navigates a cautious phase, and smaller-cap products lag. Investors remain engaged but are increasingly selective in their exposure.