US Bitcoin ETF Continues to Suffer Losses as GBTC Experiences Net Outflows and IBIT Fails to Perform
The US Bitcoin ETF finally saw a net outflow after seven consecutive days, while Grayscale’s GBTC saw two consecutive days of net inflow. BTC experienced another net outflow on May 7, totaling $15 million. GBTC had a net outflow of $28.6 million, IBIT performed the best with only $6 million net inflow.
Bitcoin’s momentum immediately decreased, falling below 63K, reaching 62,596 before the deadline. This also shows the ability of the US Bitcoin ETF to dominate the Bitcoin price.
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Related reading:
US Bitcoin Spot ETF sees full net inflow for the first time, with the millennial generation more likely to HODL.
Bitcoin surges to 62K! GBTC sees net inflow of $63 million, with a total inflow of $300 million.
