Crypto ETF Month — April 2025: net +$3.0B
April 2025 saw substantial inflows into crypto ETFs, particularly for Bitcoin. The month ended with a total net flow of +$3.0B.
TL;DR
- Net flow: +$3.0B
- Total inflows: +$3.4B
- Total outflows: -$390.3M
- Strongest day: Apr 22 (+$975.3M) · Weakest day: Apr 8 (-$331.3M)
Monthly Overview
In April 2025, the net flows into spot crypto ETFs were positive, totaling +$3.0B. The majority of the flows were concentrated in Bitcoin, which accounted for the significant inflow, while Ethereum also saw a smaller positive net flow.
Flows by Asset
BTC
Net: +$3.0B / Inflow: +$3.2B / Outflow: -$260.8M
| Fund | Flow |
|---|---|
| BlackRock | +$2.7B |
| Grayscale | -$236.9M |
| Fidelity | +$155.6M |
| Grayscale BTC | +$152.3M |
| 21Shares | +$125.9M |
| Bitwise | +$29.8M |
| Valkyrie | +$26.9M |
| Franklin | +$24.9M |
| WisdomTree | -$23.9M |
| VanEck | +$15.6M |
| Invesco | +$5.2M |
ETH
Net: +$66.1M / Inflow: +$195.6M / Outflow: -$129.5M
| Fund | Flow |
|---|---|
| Grayscale | -$124.5M |
| BlackRock | +$108.0M |
| Fidelity | +$43.5M |
| Grayscale ETH | +$34.4M |
| 21Shares | +$7.6M |
| Bitwise | -$3.2M |
| VanEck | -$1.8M |
| Invesco | +$1.8M |
| Franklin | +$0.3M |
Weekly Breakdown
| Week | Net flow |
|---|---|
| Apr 1 – Apr 4 | -$158.1M |
| Apr 7 – Apr 11 | -$797.4M |
| Apr 14 – Apr 17 | -$17.3M |
| Apr 21 – Apr 25 | +$3.2B |
| Apr 28 – Apr 30 | +$787.9M |
Biggest Fund Moves
Largest inflows
- BlackRock (BTC): +$2.7B
- Fidelity (BTC): +$155.6M
- Grayscale BTC (BTC): +$152.3M
- 21Shares (BTC): +$125.9M
- BlackRock (ETH): +$108.0M
Largest outflows
- Grayscale (BTC): -$236.9M
- Grayscale (ETH): -$124.5M
- WisdomTree (BTC): -$23.9M
- Bitwise (ETH): -$3.2M
- VanEck (ETH): -$1.8M
Market Interpretation
Bitcoin was the primary beneficiary of institutional investments, with BlackRock leading the inflows at +$2.7B. In contrast, Grayscale experienced notable outflows, particularly from Bitcoin and Ethereum. The best day for net flows was April 22, which suggests strong market interest, while the worst day on April 8 indicated a brief pullback in sentiment.
Conclusion
April closed with a robust net figure of +$3.0B, highlighting a resurgence in investor interest. The flows reflect a continued preference for Bitcoin amidst mixed reactions for Ethereum.