GBTC has recorded inflows for two consecutive days — bringing its total inflows to $66.9 million.
Crypto asset manager Grayscale has broken the four-month outflow streak from its spot Bitcoin exchange-traded fund (ETF), with inflows into the Grayscale Bitcoin Trust (GBTC) continuing for the second day in a row.
On average, roughly $218 million exited GBTC daily for 78 days straight since Jan. 11. In the process, GBTC saw over $17.5 billion in outflows.
This downward trajectory reversed on May 3, when GBTC recorded its first inflow of $63 million. As a result, the overall spot Bitcoin (BTC) ETF market recorded net positive inflows of $378.3 million following seven days of bleeding.