After four months of continuous outflows, Grayscale’s Bitcoin Trust (GBTC) witnessed inflows for the second consecutive day.
Previously, an average of $218 million per day was withdrawn from Grayscale’s spot Bitcoin ETF for 78 consecutive days, totaling over $17.5 billion in outflows. However, this trend shifted on May 3, with GBTC experiencing its first inflow of $63 million. Subsequently, on May 6, GBTC recorded a second inflow of $3.9 million, contributing to a total inflow of $66.9 million.
Despite GBTC’s significant outflow of $17.4 billion, the overall spot Bitcoin ETF market in the United States maintained a positive balance sheet. Notably, BlackRock’s iShares Bitcoin Trust (IBIT) attracted the highest investments, with net inflows reaching $15.5 billion.
Other major contributors include Fidelity Investments’ Fidelity Wise Origin Bitcoin Fund (FBTC) at $8.1 billion, Cathie Wood’s ARK 21Shares Bitcoin ETF at $2.1 billion, and the Bitwise Bitcoin ETF Trust (BITB) at $1.7 billion.
The total investment flow into the spot Bitcoin ETF market stands at nearly $11.8 billion at present.
The U.S. Securities and Exchange Commission (SEC) postponed its decision on approving or denying spot Ether ETF applications from various providers, including BlackRock, Grayscale, and Invesco Galaxy.
These applications, along with others from Fidelity, Franklin Templeton, Hashdex, and Ark 21Shares, were delayed until July. The SEC cited the need for additional time to thoroughly review the proposed rule changes and related issues.
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