• Bitcoin ETFs pulled $824 million for the week, led by Blackrock IBIT’s $732 million dominance.
• Ether ETFs added $155 million despite a mid-week break, with Blackrock ETHA/ETHB driving flows.
• XRP ($16 million) and solana ($9.4 million) also recorded gains as Bitwise, Franklin signaled sustained demand for altcoin ETFs.

Momentum carried through the week, though not without friction. Crypto exchange-traded funds (ETFs) delivered another solid performance between April 20 and April 24, with capital continuing to flow into the space despite midweek divergence and a late slowdown. The trend is intact. The conviction, however, is becoming more selective.

Bitcoin spot ETFs led with $823.7 million in net inflows, marking another strong week of institutional demand. The flows were not evenly distributed. Blackrock’s IBIT dominated once again, pulling in $732.6 million and accounting for the bulk of the weekly total. Its role as the primary gateway for institutional capital remains clear.

Ark & 21Shares’ ARKB added $59.6 million, while Morgan Stanley’s MSBT continued its steady ascent with $50.7 million in inflows. Fidelity’s FBTC contributed a more modest $24.9 million, reflecting a mixed week of inflows and outflows.

Elsewhere, the picture was less uniform. Grayscale’s GBTC saw $59 million in net outflows, continuing its long-standing pattern of redemptions. Bitwise’s BITB also recorded $13.8 million in outflows, while Vaneck’s HODL slipped by $5.9 million. Smaller contributions came from Valkyrie’s BRRR and Wisdomtree’s BTCW, offering incremental support.

The broader takeaway is clear. Bitcoin demand remains strong, but increasingly concentrated in fewer, dominant vehicles.

Green April for bitcoin ETFs with four weeks of inflows worth $2.6 billion.

Ether ETFs followed with $155 million in net inflows, extending their recovery despite a midweek break in momentum. The week began with strong inflows led by Blackrock’s ETHA and ETHB, alongside steady contributions from Fidelity’s FETH.

While Thursday saw a notable outflow that ended a 10-day streak, the rebound on Friday highlighted continued underlying demand. Grayscale’s Ether Mini Trust also attracted consistent inflows, even as ETHE faced periodic redemptions. The result was a positive week, though with signs of internal rotation.

In smaller segments, flows were constructive but measured. XRP ETFs recorded $16 million in net inflows, supported primarily by steady demand in Bitwise’s XRP and Franklin’s XRPZ. Activity remained relatively light, but consistent enough to push assets higher.

Solana ETFs posted $9.4 million in net inflows, driven largely by strong midweek demand in Bitwise’s product and supported by contributions from Fidelity’s FSOL and Vaneck’s VSOL. The segment showed improving traction after a quieter start to the month.

The pattern across the market is evolving. Capital is still entering crypto ETFs, but it is becoming more targeted. Investors are favoring scale, liquidity, and fee efficiency, while stepping away from legacy structures. The week reinforced that the market is not surging. It is building, one selective allocation at a time.

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