Bitcoin Closes the Month at $75,000 As More Bitcoin ETFs Enter the Arena

Stay up to date with our monthly market commentary:

• Goldman Sachs filed for a Bitcoin Premium Income ETF with the SEC. 
• Morgan Stanley becomes the first major Wall Street bank to launch a spot Bitcoin ETF.
• U.S. Spot Bitcoin ETFs saw net inflows in April, totaling over $2 billion. 
• Bitcoin (BTC) closed the month up 11%, while Ether (ETH) is up 8% versus last month.*

Market Overview - April 

The price of Bitcoin (BTC) increased by 11% in April, closing at approximately $75,400*. 

Bitcoin started the month on a positive note, increasing from the previous month’s close of $66,500 to over $72,000 within the first two weeks. 

The cryptocurrency gained more momentum in the third week of April, when Bitcoin surpassed $75,000 for the first time since early March, reaching a monthly high of $79,300 before closing the month in the mid-$75,000s. 

The recovery was supported by easing Middle East tensions following a U.S.-Iran ceasefire announcement.

We also saw exciting news from Wall Street. Morgan Stanley became the first major U.S. bank to launch its own spot Bitcoin ETF, booking sizable inflows into its fund during its launch week. 

And they weren’t the only ones. U.S.-listed Bitcoin ETFs saw over $2 billion in inflows, in line with BTC’s price rally in April. 

Crypto Asset Market Performance Review 

The broader crypto asset market had a strong month in April. Most of the top ten assets by market capitalization gained between 3.5% and 10% on the month. The memecoin, Dogecoin, was the standout, closing around 15% higher.

Bitcoin (BTC) had a strong month, rallying from $66,500 to $78,200 before closing at around $75,400. The price rally was largely a reaction to the announcement of a ceasefire in the Middle Eastern conflict.

Ether (ETH) followed a very similar price movement, with a sharp recovery in the first half of the month, at one point surpassing $2,250 and even reaching $2,440, before a month-end correction. The Ethereum community is awaiting the next protocol update in the coming weeks to improve stability and network fees. 

However, the best-performing crypto assets this month were Dogecoin (DOGE), Leo Token (LEO), and Hyperliquid (HYPE), with performances of 15%, 6.4%, and 5.3%, respectively. The remainder of the top crypto assets declined by roughly 1%, with Solana (SOL) declining the most at 1.3%. 

Institutional Interest in Bitcoin

In April, we saw growing institutional interest in Bitcoin and the launch of new products by Wall Street veterans. Among them were Morgan Stanley with its own Bitcoin ETF and Goldman Sachs with a Bitcoin Premium Income ETF. Overall, this month was a great one for spot Bitcoin ETFs, with net inflows totaling over $2 billion. 

Morgan Stanley Launched Its First Spot Bitcoin ETF

Morgan Stanley made history on April 8 as the first major Wall Street bank to join the spot Bitcoin ETF market, debuting its proprietary Bitcoin fund under the MSBT ticker.

The fund saw significant initial traction, issuing more than 1.7 million shares on its opening day and attracting over $33 million in net inflows throughout its first week of trading. Throughout April, MSBT was also on a streak of continuous net inflow, with up to 10 consecutive net inflow days. 

By setting a competitive fee of 0.14%, one of the lowest available, Morgan Stanley is positioning MSBT to stand out among other spot Bitcoin ETF providers and is narrowing the gap with major ETF industry leaders like BlackRock, which has previously maintained its position as one of the most cost-effective Bitcoin ETFs and the top holder of net assets under management.

Goldman Sachs Filed for a Bitcoin Premium Income ETF

Unlike Morgan Stanley, which opted for a spot Bitcoin ETF, Goldman Sachs made headlines this month by filing with the SEC for a Bitcoin Premium Income ETF. 

These investment vehicles generally maintain exposure to BTC by holding shares in an established spot Bitcoin ETF and subsequently sell call options against those holdings to generate income from option premiums.

Under this "covered-call" framework, funds are gathered from option purchasers and paid out as yield. In return, investors forgo a portion of Bitcoin's potential gains if the price rises beyond a predetermined strike level.  

Spot Bitcoin ETFs Record Over $2 Billion in Net Inflows in April

The success of the spot Bitcoin ETFs' net inflows in March carried over to the new month, where we saw a total net inflow of over $2.09 billion, marking the biggest month of the year in cumulative net inflows. 

Taking a closer look at the weekly data, the picture of April’s success becomes even more impressive, as shown in the weekly inflow chart. For the first four weeks straight, we saw continuous net inflows, and the week of 17 April was the largest, with over $996 million in inflows.

In aggregate, the 12 spot Bitcoin ETFs manage more than $100 billion in net assets, representing nearly 6.6% of the 21 million total Bitcoin supply. BlackRock remains the dominant player among ETF issuers, overseeing total net assets exceeding $61.7 billion.

‍*Closing price data is from April 30th 2026, at 09:15 GST