Bitcoin ETFs pull in $603M as U.S.-Iran tensions rise; Ethereum ETFs add $99M

## Market snapshot - Ethereum (May 4): 99.9% "on track"; little change over the past 24 hours and the past week. - Bitcoin (May 4): 0.1% "on track"; little change over the past 24 hours and the past week. - Solana (May): prediction progress unclear; 27 days remaining. ## Fund flows (ETFs) - Bitcoin ETFs: +$603 million net inflow in one day. - Ethereum ETFs: +$99 million net inflow in one day; -$136 million net outflow over the past seven days. - Solana ETFs: -$1 million net outflow in one day; -$1.9 million net outflow over seven days. ## What's driving it Fresh ETF flow data shows sizeable buying in Bitcoin and continued interest in Ethereum. The moves come as U.S.-Iran frictions intensify, with reports citing U.S. seizures of Iranian vessels and the ongoing closure of the Strait of Hormuz. The pickup in Bitcoin ETF demand aligns with its "digital gold" narrative as a hedge against geopolitical risk. Solana-linked ETFs remain under pressure, extending outflows that point to softer demand. Ethereum's picture is mixed: a strong one-day inflow is offset by a $136 million net outflow over the last week, leaving near-term sentiment less decisive. ## Market read-through The Bitcoin ETF inflow is being interpreted as supportive of the "No" outcome tied to the May 4 level, implying a price below $68,000. Ethereum's mixed flow profile fits expectations for it to hold above $1,800. Persistent Solana outflows support the "Yes" call for potential downside during May, though the impact is described as moderate. ## What to watch Track developments in the U.S.-Iran situation, as shifts in geopolitical risk could feed directly into crypto volatility. Watch for market-moving comments from figures such as Vitalik Buterin or Elon Musk. Large institutional activity, including sizable trades by managers like BlackRock, may also shape near-term direction.