• Grayscale saw positive BTC ETF inflows for the first time in over four months.
• BTC was trading above the $64,000.

Over the past few weeks, the spot Bitcoin ETF experienced continuous outflows, reaching a peak with the largest outflow volume recorded on the 1st of May.

Similarly, Grayscale, currently holding the largest Asset Under Management (AUM) and ETF market cap, also witnessed outflows until recently. Could the reversal in ETF flow influence the price trend of BTC?

Bitcoin ETF sees the second day of inflow

Analysis of the Bitcoin ETF Net Inflow revealed a notable shift as it returned to positive territory following several consecutive days of outflows.

AMBCrypto’s examination of the flow chart indicated that the spot ETF experienced outflows from the 24th of April to the 2nd of May. It reached its peak outflow volume on the 1st of May, exceeding $563 million. 

However, on the 5th of May, it marked a significant turnaround with the first inflow in weeks, amounting to over $378 million.

This positive trend continued on the 6th of May, recording a consecutive inflow of $217 million. After over four months, Grayscale observed its first inflow during this period.

Grayscale records its first Bitcoin ETF inflow in months

AMBCrypto’s analysis of the Grayscale Bitcoin ETF Netflow metric on Coinglass indicated a consistent trend of outflows since January.

According to data from

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Author: Adewale Olarinde

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