Grayscale’s spot Bitcoin ETF sees second day of consecutive inflows

Bitcoin Trust GBTC Continues to See Net Inflows

Grayscale’s Bitcoin Trust (GBTC) has witnessed a positive turnaround with two consecutive days of net inflows. This marks a significant shift from the outflows exceeding $17.5 billion seen since the introduction of spot Bitcoin (BTC) ETFs in January. According to data provided by Farside Investors, GBTC, the world’s largest spot Bitcoin ETF, saw $3.9 million in inflows on May 6, securing its second consecutive day of net inflows.

Spot Bitcoin ETF Market Sees Significant Inflows

With the Grayscale Bitcoin ETF contributing to net inflows, the spot Bitcoin ETF market registered over $378.3 million in inflows on May 3 and a total of $217 million on May 6. Notable performers included FBTC and Ark 21Shares Bitcoin ETF, recording substantial inflows. Bloomberg analyst Eric Balchunas expects a mix of capital inflows and outflows in the spot ETF market, highlighting continued growth and a strong investor base.

Bitcoin’s Recent Performance and Market Trends

The recent performance of Bitcoin (BTC) has reflected in the inflows seen in the ETF market. After dropping to as low as $57,000, Bitcoin bounced back and surpassed $65,000 in market value. However, BTC has since dropped 1.59% over the last 24 hours, currently trading at $64,400.

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