Spot Bitcoin ETFs Are on a Net Inflow Streak, While Corporate BTC Accumulation Accelerates

Bitcoin is recovering, and with that, there is a lot of “green” on the screen, from publicly traded companies such as Strategy, which bought just over 34,000 BTC this week, to net inflows into the spot Bitcoin ETFs, which pulled in over $1.2 billion in the last seven trading days. 

TL;DR

• Spot Bitcoin ETFs are on a roll, pulling in over $1.2 billion in net inflows over seven trading days. 

• Strategy buys 34,164 BTC, worth over $2.54 billion in a single day, and surpasses BlackRock in Bitcoin holdings. 

Spot Bitcoin ETFs Pulled in Over $1.2 Billion in the Last 7 Trading Days 🚀

April has been a great month for U.S. spot Bitcoin ETFs.  

So far, we’ve seen four consecutive weeks of net inflows into all funds, and over the last seven trading days, they pulled in more than $1.2 billion.

Especially the week of 17 April was the largest weekly net inflows since mid-January, bringing the positive flows to a third consecutive week.

All funds combined saw inflows of $996.38 million, just shy of the $1 billion mark. 

BlackRock's IBIT spearheaded weekly inflows, attracting $906 million. Morgan Stanley’s MSBT, which I wrote about two weeks ago, debuted on 8 April and completed its first full week of trading with a net inflow of $71 million. 

So far this month, all funds combined have already recorded net inflows of over $1.8 billion, and it seems like we’re on track for another week with at least $250 million, according to data from SoSoValue. 

All of these inflows occurred as Bitcoin rose from roughly $71,500 to $77,600 (at the time of writing). 

Strategy Hit the Smash Buy Button and Bought BTC Worth $2.54 Billion 🤯

It has been a while since I last wrote about Strategy (formerly MicroStrategy), but this week the news from the largest public Bitcoin holder is big!

Strategy issued a regulatory filing on Monday, disclosing how much Bitcoin it bought. 

On that day, they announced their third-largest Bitcoin purchase with 34,164 BTC, worth over $2.54 billion.

Their average purchase price was $74,395 per coin, and with this acquisition, the firm pushes its aggregate reserves to 815,061 BTC. 

To date, Strategy has allocated approximately $61.56 billion toward its Bitcoin treasury, maintaining an overall cost basis of $75,527 per coin.

The majority of that money came from Strategy’s latest perpetual preferred stock product, STRC. Unlike previous Strategy products, STRC has no maturity date and pays a monthly cash dividend. 

Thanks to it, the publicly traded Bitcoin treasury company surpassed BlackRock’s BTC holdings. 

It seems like Michael Saylor is enjoying this supposed Bitcoin bear market to the fullest and isn’t slowing down in buying more BTC for Strategy’s balance sheet. 

If they continue at this pace, we won’t have to wait long to read about them surpassing 1 million BTC in their treasury. 

Elsewhere in Bitcoin 📖

A quick look at what else has been happening in Bitcoin: 

• BlackRock executive: Bitcoin is driven by its own rules

• Navy Admiral confirms the U.S. is running a Bitcoin node 

• Charles Schwab released a great educational video about Bitcoin

• Google searches for Bitcoin reached its lowest level since July 2025

• Morgan Stanley’s Bitcoin ETF has seen nine consecutive net inflow days since its start

Your fellow stacker in sats, 

Patrick Lowry

PS: If you want to see how the value of goods and services changes when priced in Bitcoin, check out the Samara Bitcoin CPI. It might give you a new perspective on holding Bitcoin on your company’s balance sheet or just as an individual.

Disclaimer: The opinions expressed in this newsletter are solely those of the author and do not necessarily represent the views of any associated company. This newsletter is for educational and informational purposes only and should not be construed as investment, financial, or any other professional advice. Nothing here is a solicitation, offer, or recommendation to buy or sell any asset or to use any service. Investing in cryptocurrencies is highly speculative and carries a significant risk of substantial financial loss, so you must conduct your own thorough research and consult with independent professional advisors before making any decisions.