Bitcoin ETF in the United States saw a continuous outflow for seven days, but Grayscale’s GBTC experienced two consecutive days of inflow. Bitcoin (BTC) also faced outflows again on May 7, totaling $15 million. GBTC had an outflow of $28.6 million, while IBIT performed the best with a net inflow of only $6 million.
The firepower of Bitcoin immediately declined, falling below 63K, reaching 62,596 before the deadline. This also demonstrates the ability of the US Bitcoin ETF to control the price of Bitcoin.
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ETF
GBTC
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Further Reading:
US Bitcoin Spot ETF sees full inflow for the first time, and the millennial generation will hold more
Bitcoin surges to 62K! GBTC sees first inflow of $63 million, with a total inflow of $300 million.