Grayscale Spot Bitcoin ETF Turns Positive After $17.5 Billion In Outflows, Sees Inflows For The First Time
Summary
Grayscale Bitcoin Trust (GBTC) saw its first inflow after 82 days of outflows, with $63 million coming in on May 3. This turnaround occurred amidst significant outflows in the US Spot Bitcoin ETF market, possibly triggered by the Federal Reserve's decision to keep rates unchanged. Grayscale's high management fee and selling connections with insolvent crypto companies contributed to its outflows. Despite recent declines, BTC is up by 6.36% in the past 24 hours, trading at $63,175.
