GBTC outflows outweigh Bitcoin ETF inflows

A net outflow occurred yesterday after four consecutive days of inflow into the U.S. spot Bitcoin exchange-traded fund (ETF).

The main reason was Grayscale’s GBTC spot ETF, which saw net outflows of over $303 million per day. All other Bitcoin ETFs saw net inflows (led by Bitwise). Bitcoin BTC

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The ETF had net inflows of more than $40 million, and BlackTock’s iShares Bitcoin Trust had net inflows of more than $21 million. Data from SoSoValue.

Combined, this brings total net outflow from spot Bitcoin ETFs to nearly $224 million.

Last week, Bitcoin reached nearly $1 billion. flow In US Bitcoin ETFs — BlackRock’s products took the lion’s share.

Overall, cumulative spot Bitcoin ETF trading volume has declined at a steady pace since peaking in early March.

According to The Block’s Bitcoin price page, the price of Bitcoin is currently above $70,500.

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