Spot Bitcoin ETFs see $89.7M outflows on second straight day

Key Insights

• Spot Bitcoin ETFs recorded $89.7M outflows on April 28, marking second consecutive day of redemptions.
• BlackRock’s IBIT led outflows with $112.2M, while total AUM remained strong near $103B.
• Bitcoin price stayed resilient near $76,350 despite outflows, signaling long-term holder support.

US spot Bitcoin ETFs posted net outflows of $89.7 million on April 28, 2026. This marked the second consecutive day of withdrawals, ending a strong streak of inflows earlier in the month.

BlackRock’s iShares Bitcoin Trust (IBIT) led the redemptions. At the same time, ARK Invest’s ARKB attracted inflows, helping soften the decline. Despite the withdrawals, Bitcoin’s price held steady near $76,350.

Analysts say the moves reflect short-term caution ahead of the Fed’s policy meeting rather than a deeper shift in sentiment.

Strong Inflow Streak in Bitcoin ETFs Pauses as Outflows Emerge

Data from Farside Investors and CoinGlass showed IBIT with $112.2 million in redemptions. ARKB stood out with $41.2 million in inflows, while Fidelity’s FBTC and Bitwise’s BITB saw modest outflows.

The withdrawals ended a nine-day inflow streak that had brought in more than $2.1 billion between mid-April. The prior week alone saw inflows of $1.2 billion. These strong flows pushed total assets under management (AUM) for the 13 US spot Bitcoin ETFs close to $103 billion.

As of April 28, the funds collectively held about 1.32 million BTC. That equals roughly 6.28% of Bitcoin’s circulating supply. Since their launch in early 2024, cumulative net inflows now stand at $58.6 billion.

Investor Positioning Ahead of Federal Reserve Meeting

Analysts say the back-to-back outflows are linked to portfolio rebalancing and caution before the Federal Open Market Committee (FOMC) meeting. Investors often adjust positions ahead of central bank decisions. Profit-taking after April’s strong gains may also explain the pause.

BlackRock’s IBIT has dominated flows throughout April, often leading daily inflows. The recent slowdown highlights how ETF flows can swing with macroeconomic headlines. Daily figures are volatile and influenced by quarter-end positioning and central bank expectations.

Despite the withdrawals, the Bitcoin price stayed firm. On April 28, BTC traded between $76,000 and $77,500, closing near $76,350. This shows that long-term demand from corporate treasuries and committed holders continues to support the market.

Long-Term Adoption of Bitcoin ETFs Remains Strong Despite Short-Term Volatility

The spot Bitcoin ETF market has matured since its debut in 2024. Even with occasional redemptions, the funds often absorb more Bitcoin than miners produce. This creates structural buying pressure.

Bitcoin’s ability to hold support near $76,000 underscores the role of strategic, long-term buyers. Market watchers say the FOMC outcome will be key. A dovish stance could quickly restart inflows. A hawkish tone may extend the cautious mood.

Overall, the trend for Bitcoin ETFs remains positive. April’s nine-day inflow streak brought in more than $2 billion, reinforcing institutional adoption. With total AUM near $103 billion and cumulative inflows above $58 billion, confidence from traditional finance remains strong.

The $89.7 million net outflow on April 28, led by IBIT, is small compared to the overall market size. Bitcoin’s resilience and the scale of ETF holdings suggest institutional adoption is intact. Investors are now waiting for greater clarity from the Federal Reserve before making their next moves.

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