Grayscale, a crypto asset manager, has put an end to the continuous outflow trend from its Bitcoin exchange-traded fund (ETF). The Grayscale Bitcoin Trust (GBTC) has seen inflows for two consecutive days, breaking the four-month streak of outflows. Since January 11, GBTC experienced an average daily outflow of around $218 million, totaling over $17.5 billion. However, on May 3, GBTC recorded its first inflow of $63 million, resulting in a net positive inflow of $378.3 million for the overall spot Bitcoin ETF market after seven days of outflows. On May 6, GBTC recorded its second inflow of $3.9 million, bringing its total inflows to $66.9 million. Despite GBTC’s net outflow of $17.4 billion, the spot Bitcoin ETF market in the U.S. maintains a positive balance sheet. Notably, BlackRock’s iShares Bitcoin Trust attracted the largest overall investment, with net inflows of $15.5 billion. Other major contributors to net inflows include Fidelity Investments’ Fidelity Wise Origin Bitcoin Fund with $8.1 billion, Cathie Wood’s ARK 21Shares Bitcoin ETF with $2.1 billion, and the Bitwise Bitcoin ETF Trust with $1.7 billion. The total cumulative investment flow into the spot Bitcoin ETF market is nearly $11.8 billion at the time of writing.
In other news, the U.S. Securities and Exchange Commission (SEC) has delayed its decision on approving or denying spot Ether (ETH) ETF applications from various providers. The decisions on applications from BlackRock, Grayscale, and Invesco Galaxy have been postponed to July. The SEC explained in a filing that it requires more time to consider the proposed rule change and the raised issues. As expected, the SEC also delayed decisions on applications from other prospective Ether ETF issuers, including Fidelity, Franklin Templeton, Hashdex, and Ark 21Shares.