Bitcoin ETF

Bitcoin

Spot

<ul> 
 <li>The seven-day losing streak for US Bitcoin ETFs came to an end and flows turned positive.</li> 
 <li>Friday saw the first-ever inflows of $63 million into the Grayscale Bitcoin ETF.</li> 
</ul> 
With US nonfarm payrolls coming in substantially lower than predicted, raising the possibilities of a dovish stance by the <a href="https://www.federalreserve.gov/" target="_blank" rel="noreferrer noopener nofollow">Fed</a>, the price of <a href="https://thenewscrypto.com/sec-delays-decision-on-7rcc-globals-spot-bitcoin-etf-application/" target="_blank" rel="noreferrer noopener">Bitcoin</a> soared quickly after the announcement of the data on May 3, Friday. 
The seven-day losing streak for US Bitcoin ETFs came to an end as a result, and flows turned positive again. The most intriguing development, however, is the end of the 77-day losing streak—the withdrawals from the Grayscale Bitcoin ETF have finally ceased. 
<h3 class="wp-block-heading" id="h-things-turning-positive-nbsp">Things Turning Positive&nbsp;</h3> 
Friday saw the first-ever inflows of $63 million into the Grayscale Bitcoin ETF, which has been operational since January 2024. Investors in <a href="https://thenewscrypto.com/grayscale-bitcoin-trust-gbtc-faces-continued-outflow-spree/" target="_blank" rel="noreferrer noopener">GBTC</a> might breathe a sigh of relief, even if the size is not very significant. 
The spot Bitcoin ETFs had a significant net inflow of $378 million yesterday, May 3, breaking a seven-day losing streak, according to data from Farside Investors. Also, Fidelity ETF FBTC saw a net inflow of $103 million in a single day. 
On Friday, <a href="https://www.blackrock.com/corporate/global-directory" target="_blank" rel="noreferrer noopener nofollow">BlackRock’s</a> IBIT received just $12.7 million, putting it in the second-to-last position. It turns out that BlackRock’s competitors, notably Fidelity, are already making steady inroads into the market. It turns out that corporations located in Hong Kong have also been purchasing Bitcoin ETFs on the U.S. spot market. 
A Hong Kong-based investment firm called Yong Rong Asset Management paid $38 million for the BlackRock iShares Bitcoin ETF (IBIT). With a holding percentage of more than 12%, this investment adviser is now the biggest IBIT holder. Spot Bitcoin ETFs in the US have been drawing investors from all over the world because of their minimal management costs and high liquidity. 
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Grayscale’s Spot Bitcoin ETF GBTC Sees First Inflows Since Debut

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TheNewsCrypto

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