Grayscale Spot Bitcoin ETF Turns Positive After $17.5 Billion In Outflows, Sees Inflows For The First Time |

After enduring a prolonged period of outflows since its launch on January 11, 2024, Grayscale's Spot Bitcoin ETF has finally seen its first inflows. On May 3, the ETF recorded approximately $63 million in inflows, breaking an 82-day streak of losses totaling around $17.46 billion. This change in fortune coincided with a broader market recovery, with Bitcoin's price rising above $63,000.

The inflow into Grayscale's ETF was part of a larger trend that saw other Bitcoin ETFs like BlackRock’s iShares Bitcoin Trust and Franklin Templeton’s Spot Bitcoin ETF also experiencing significant inflows. The total for all recorded inflows on that day was about $378.3 million. This development was unexpected, especially after a recent massive outflow from US Spot Bitcoin ETFs, influenced by the Federal Reserve's decision to maintain interest rates, which had led to a downturn in the crypto market.