After four consecutive weeks of outflows exceeding $1 billion, US spot Bitcoin ETFs rebounded with $116.8 million in net inflows last week. Despite this, Grayscale's Bitcoin Trust experienced outflows of $171.1 million, breaking its 78-day streak. Fidelity's FBTC led the inflows with $111.3 million, followed by Ark Invest's ARKB with $82.8 million.

BlackRock's IBIT, previously dominant, witnessed its first daily outflows on May 1, with $48.1 million in net inflows. Total net inflows for ETFs stand at $11.7 billion, with trading volumes declining to $7.4 billion. Cumulative trading volume since January 11 reached $254 billion.

The spot Bitcoin ETF hype slowed in April, with net outflows of $343.5 million. While last week's inflows are positive, it's unclear if they signal a long-term trend reversal. In contrast, ether-based products saw outflows amid declining sentiment on spot ether ETF approvals in the US.