The asset management giant said the gold inflows highlighted demand for perceived safe-havens.
Wei Li, head of iShares EMEA investment strategy at Blackrock, said: “Flows into commodity ETPs led the inflows in April, with $1.7bn added over the course of the month, the highest level of buying since February 2017.
“The majority of flows went into gold where $1bn of assets were gathered as a result of ongoing trade tensions and mixed equity market sentiment.”
In contrast, EMEA-listed European equity ETPs lost $4.3bn – the largest month of selling in European equities since September 2014.
Li added: “A wave of mixed eurozone macro data, combined with stronger earnings expectations for the US relative to Europe, appear to have reduced investor confidence.”
Meanwhile, fixed income funds gathered $17.3bn, US equities with $6.9bn and emerging markets equities with $6.5bn.
US equities saw inflows for 12 consecutive months in the EMEA range for the first time since 2014.
Fixed income had its strongest month since June 2017 led by US treasuries, another safe-haven asset, with $6.6bn, focused in short maturities.