Bloomberg analyst spots rare reversal in Bitcoin ETF flows

The market for U.S. spot Bitcoin exchange-traded funds (ETFs) has reached a turning point that analysts haven't seen in months. 

For the first time in recent history, every rolling period tracked by experts has turned positive. This broad alignment suggests a strong return of institutional demand as Bitcoin (BTC) continues to trade near the $77,800 mark.

Bloomberg ETF analyst Eric Balchunas highlighted this shift, noting that BlackRock’s iShares Bitcoin Trust (IBIT) alone has pulled in $3 billion in recent flows. This performance places the fund in the top 1% of all ETFs by volume. 

"Bitcoin ETFs flows are back in the high life.. every single rolling period we track is now positive," Balchunas shared on X.

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Surging daily and weekly demand

Data from CoinMarketCap reveals that on April 22, the available spot Bitcoin ETFs recorded a combined $324.5 million in net inflows. 

BlackRock’s IBIT led the group, accounting for $246.9 million of that total, followed by Fidelity’s FBTC and Bitwise’s BITB.

A major catalyst for this renewed interest is the entry of traditional Wall Street giants. In early April, for instance, Morgan Stanley created a stir with the launch of the Morgan Stanley Bitcoin Trust (MSBT).

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The bank set the annual cost for the fund at just 14 basis points (0.14%), making it the cheapest spot Bitcoin ETF currently available on the market. In its first nine days, the fund quickly gathered $139 million in assets.

The competition is expected to grow as more firms move into the space. Goldman Sachs has already proposed a new product called the Bitcoin Premium Income ETF, which is currently moving through the approval process with the Securities and Exchange Commission (SEC).

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