US-listed spot Bitcoin ETFs recorded $223.2 million in net inflows on Thursday, extending their record-breaking streak to eight consecutive days. According to SoSoValue data, this latest surge has pushed total net additions above $2.1 billion during the current run, significantly exceeding the $1.2 billion recorded during a March run. The sustained institutional demand demonstrates continued confidence in regulated cryptocurrency investment vehicles despite mixed macro conditions and rising bond yields. April's total Bitcoin ETF inflows of $2.43 billion are already nearly double March's $1.32 billion haul, positioning the category for its strongest month since the October 2025 all-time high run.
BlackRock's iShares Bitcoin Trust led Thursday's surge, capturing approximately $167.5 million during the eighth-day streak, accounting for more than 75% of total inflows across competing products. As reported by SoSoValue, the fund now holds about 809,870 BTC, representing approximately 62% of aggregate US spot ETF assets. Combined, US-listed spot Bitcoin ETFs now control roughly 1.3 million BTC valued at approximately $103 billion, with total holdings reaching about 1.3 million BTC. Notably, funds from Ark Invest and 21Shares, Morgan Stanley, and Grayscale also recorded positive flows, while Fidelity's FBTC was the one meaningful source of outflows at $16.93 million, and Bitwise and VanEck also saw modest redemptions. IBIT's net assets have reached $63.14 billion, placing it in the top 1% of all US-listed ETFs by inflows, a ranking that covers the entire fund universe, not just crypto products.
Bitcoin has entered a cautious phase as U.S. bond yields emerge as the latest variable influencing price direction. The U.S. 2-year Treasury yield has started to form a head-and-shoulders pattern, raising concerns about tightening financial conditions and potentially pushing yields above the 4% threshold. U.S. inflation rose to 3.3% in March, its highest level since May 2024, even as the Federal Reserve held rates steady at 3.75% during its latest meeting. This backdrop has prompted investors to adopt a more defensive posture, with capital rotation away from risk assets intensifying as higher yields increase the opportunity cost of holding volatile instruments like Bitcoin. However, Bitcoin maintains a 39% correlation with bond yields, leaving significant independence in price movement and suggesting that while higher yields may apply pressure, they are unlikely to dictate direction entirely.
The sustained ETF demand has created a structural bid that tightens supply, with investors logging nine consecutive days of net buying, culminating in a weekly high of approximately $823 million in inflows by the 24th of April. However, signs of moderation have begun to appear as daily inflows dropped sharply to $14.45 million on the same day, suggesting that some participants may be easing exposure at higher levels. Bitcoin has gained roughly 11% over the past 30 days as ETF demand returned alongside improved macro sentiment. Bitcoin dominance has also moved above 60% for the first time this year, indicating the market has become more Bitcoin-heavy during the latest recovery. Cumulative ETF net inflows since launch now sit at $58 billion with total assets at $102 billion, representing approximately 6.5% of Bitcoin's total market cap.
