Grayscale’s GBTC spot Bitcoin ETF saw inflows of $63 million, ending a 78-day streak of outflows.
Grayscale’s GBTC spot Bitcoin exchange-traded fund recorded its first ever daily net inflow on Friday, ending a 78-day streak of outflows.
GBTC’s cumulative outflows since the U.S. spot Bitcoin ETF began trading on Jan. 11 totaled more than $17.5 billion through May 2, but the high-fee fund suddenly fell on Friday, according to data from Farside Investors and CoinGlass. It generated inflows worth $63 million.
“Holy shit GBTC came in today. “The 80-day streak is finally over.” Bloomberg ETF analyst Eric Balchunas posted on X. “I had to look back and double-check the data, but it was true.”
“The GBTC outflow streak is over… we had $63 million in inflows,” said ETF Store President Nate Geraci.. “‘that much Bitcoin 
BTC
+6.25%
‘The Shining’ can now hang in museums,” he added, referring to the worrying GBTC flow chart.
According to GBTC’s fund page, GBTC currently holds 291,239 BTC ($18.3 billion) in assets under management, down 53% from about 619,220 BTC on January 11.
US spot ETF records biggest inflows since Bitcoin’s all-time high
Among early reporters, Franklin Templeton’s EZBC recorded a record daily net inflow of $60.9 million on Friday, while Bitwise’s BITB, Ark Invest’s ARKB and VanEck’s HODL had net inflows worth $33.5 million, $28.1 million and $8.7 million, respectively. Inflow was recorded.
Fidelity’s FBTC led the funds, which later reported net inflows of $102.6 million on Friday. BlackRock’s generally dominant spot Bitcoin ETF IBIT brought in $12.7 million, while Valkyrie’s BRRR and Invesco’s BTCO saw net inflows of $35.6 million and $33.2 million, respectively. Rounding out the pack, WisdomTree’s BTCW and Hashdex’s DEFI recorded flows for the day at zero.
Overall, US spot Bitcoin ETFs recorded daily net inflows of $378.3 million yesterday. This is the first since April 23 and the largest since March 13 as Bitcoin approaches its all-time high of $73,836.
As of Friday, the combined ETF had shed more than $1.2 billion over seven consecutive days of outflows, including the largest single-day net outflow ever of $563.7 million on Wednesday. Cumulative net inflows to the integrated ETF since launch now exceed $11.5 billion.
Spot Bitcoin ETF Hype Is Dying
The hype for spot Bitcoin ETFs seemed to have died down, with monthly net outflows reaching $343.5 million in April, ending three consecutive months of inflows and pouring into May. GBTC led outflows in April, with $2.5 billion leaving the ETF.
On Wednesday, the price of Bitcoin fell to a low of $56,500, down 23% from its all-time high in March. However, with Bitcoin rising around 7% on Friday to surpass the $63,000 level, it remains to be seen whether the turn in GBTC flows signals a reversal of trends in the broader US spot Bitcoin ETF category.
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