Bitcoin ETFs Draw $664 Million as Inflows Extend to Fourth Day

U.S.-listed spot crypto ETFs extended their winning streak on April 17, pulling in fresh capital led by Bitcoin (BTC) products, even as markets weighed renewed geopolitical headlines tied to President Trump’s remarks on Iran and the possibility of a breakdown in longer-term ceasefire efforts.

According to figures cited by Odaily, U.S. spot Bitcoin ETFs recorded net inflows of $664 million on Thursday ET, marking the fourth consecutive session of positive flows. BlackRock’s iShares Bitcoin Trust (IBIT) led the pack with $284 million in net subscriptions, lifting its cumulative net inflows to $64.63 billion. Fidelity’s Wise Origin Bitcoin Fund (FBTC) followed with $163 million, bringing its cumulative total to about $11.01 billion.

Total net assets across U.S. spot Bitcoin ETFs rose to roughly $101.45 billion, equivalent to about 6.55% of Bitcoin’s total market capitalization. Cumulative net inflows for the category were reported at $57.74 billion, underscoring how ‘institutional demand’ continues to shape marginal buying in the market through regulated vehicles.

Spot Ethereum (ETH) ETFs also stayed in inflow mode. On April 17 ET, the group posted $127 million in net inflows, extending its streak to seven straight sessions, per Odaily. Fidelity’s Ethereum Fund (FETH) drew the largest daily allocation with $84.13 million, taking cumulative net inflows to approximately $2.356 billion. BlackRock’s iShares Ethereum Trust (ETHA) added $30.79 million, with cumulative net inflows reaching about $11.83 billion.

Ethereum spot ETFs now hold an estimated $14.26 billion in net assets—about 4.87% of Ethereum’s market value—with historical cumulative net inflows rising to $11.94 billion. The steady bid has helped reinforce a narrative of broadening access to crypto beta via traditional brokerage rails, even as volatility remains sensitive to macro and regulatory signals.

Flows were not limited to the two largest assets. U.S. spot Solana (SOL) ETFs logged $13.04 million in net inflows on April 17 ET. Bitwise’s Solana Staking ETF (BSOL) accounted for most of the total with $10.92 million, bringing cumulative net inflows to $819 million. Fidelity’s Solana Fund ETF (FSOL) added $2.11 million, taking cumulative net inflows to $155 million. Total net assets for Solana spot ETFs were reported at $903 million, about 1.76% of Solana’s market capitalization, with cumulative net inflows around $1.01 billion.

Beyond ETF flows, on-chain activity hinted at potential near-term supply dynamics. Whale Alert reported an inbound transfer of 3,000 BTC—worth roughly $231.49 million—from an unidentified wallet to OKX. Large exchange deposits are often interpreted as a possible precursor to selling, though they can also reflect internal treasury movements or custodial reshuffling. Without follow-on transactions, the market typically treats such alerts as watchlist items rather than confirmed sell signals.

Meanwhile, President Trump added another layer to risk sentiment. PANews, citing coverage from Kallian Press, reported that Trump said the United States could resume attacks if Iran does not agree to a long-term ceasefire, reiterating that Iran would not be allowed to possess nuclear weapons. The comments were made aboard Air Force One while returning to Washington, according to the report. Traders will be watching whether rhetoric translates into policy actions that raise ‘geopolitical risk’—a factor that can tighten liquidity, lift crude, and amplify cross-asset volatility that often spills into crypto.

In market-structure news, prediction market Polymarket said it plans to roll out its V2 exchange upgrade on April 22. The development team indicated testing is ongoing for all users, while developers using the API or client must complete a pre-launch migration. The upgrade requires updated SDK and API integrations, new exchange contract addresses, and a revised order structure. Polymarket is also shifting its collateral framework to pUSD, with USDC.e to be wrapped into pUSD through a collateral on-ramp.

Polymarket said the upgrade will involve roughly one hour of downtime beginning around 7:00 p.m. ET on April 22. All unfilled limit orders will be canceled during the maintenance window, though funds and positions are expected to remain intact. After migration, the V1 exchange will be retired—an operational change that could briefly affect liquidity conditions for active traders around the cutover.

Security risks also returned to the spotlight. Rhea Finance published a post-incident report stating the realized loss from a vulnerability exploit was approximately $18.4 million—significantly higher than an earlier estimate of about $7.6 million. The attacker allegedly used a complex transaction path and fake token pools to manipulate liquidity, then shifted borrowed assets into pools under their control, returning only a small portion. That sequence pushed multiple margin positions into undercollateralized territory, triggering liquidations that drained protocol reserves, according to the report.

Rhea Finance said roughly $11.2 million has been recovered or frozen so far, including assets returned by the attacker in USDC and NEAR, as well as about $4.34 million in USDT reportedly frozen with Tether’s cooperation. The incident highlights how composability and thin liquidity in DeFi markets can be weaponized, and why recovery efforts increasingly depend on a mix of on-chain tracing and centralized issuer coordination.

Traditional finance, meanwhile, continued inching toward tokenization. Odaily reported that the New York Stock Exchange (NYSE) has filed a proposed rule change with the U.S. Securities and Exchange Commission (SEC) to permit the listing and trading of tokenized securities. The proposal would introduce a new Rule 7.50 and revise related provisions, enabling eligible securities to trade in tokenized form on the exchange.

The effort is tied to a three-year tokenization pilot program run by the Depository Trust Company (DTC) and is modeled in part on a similar Nasdaq framework previously approved by the SEC, according to the report. Under the proposal, tokenized securities would retain the same CUSIP numbers, ticker symbols, and shareholder rights as their traditional counterparts, and they would trade with equal priority in the same order book. Initial eligibility would be limited to constituents of the Russell 1000 and major index-tracking ETFs, while settlement would remain on a T+1 cycle under the existing regulatory regime.

In the mining sector, Nasdaq-listed Bitdeer Technologies Group ($BTDR) said it sold all 177 BTC it mined over the past week, maintaining a BTC balance of zero as of April 17, according to Odaily. The disclosure signals a cash-flow-oriented posture at a time when miners are increasingly balancing expansion needs, hardware cycles, and post-halving revenue pressures.

Regulators in Asia also highlighted the risks of retail-targeted fraud. PANews reported that authorities in Taizhou, Zhejiang province, uncovered a scam that used ‘metaverse’ and crypto marketing to defraud more than 130 investors of over 35 million yuan. The group allegedly pitched facial-recognition payment devices and franchise packages, collecting fees and promoting points that could later be exchanged for gifts or shares tied to an IPO. Victims were then told they needed to link the points to a token called GDFC to cash out, with promises of sharp price appreciation.

Investigators said GDFC was a worthless in-house token, with the group manipulating prices and using “exchange” tactics to coax additional deposits. Funds were allegedly routed through layered transfers into personal accounts and used for wealth management products, real estate purchases, and luxury spending. A court sentenced a defendant to 10 years in prison and a 200,000-yuan fine for fraud; an appeal was rejected, leaving the original ruling intact.

For markets, the day’s developments reinforced a familiar mix: steady ETF inflows supporting a bid for major crypto assets, protocol-level security incidents reminding participants of ongoing operational risks, and macro-geopolitical headlines that can quickly reshape risk appetite. The interplay between ‘regulated access’ via ETFs and bouts of uncertainty will likely remain central to crypto pricing as Q2 unfolds.