GBTC outflows overpower spot bitcoin ETF inflows
Quick Take
- GBTC continues to experience significant outflows.
- Every other spot bitcoin ETF experienced net inflows yesterday.
Spot bitcoin exchange-traded funds in the United States experienced net outflows yesterday after four straight days of inflows.
The primary reason was Grayscale's GBTC spot ETF, which saw a single-day net outflow of over $303 million. Every other bitcoin ETF saw net inflows — led by Bitwise Bitcoin 
BTC
+6.76%
ETF's more than $40 million net inflow and BlackTock's iShares Bitcoin Trust's more than $21 million net inflow — according to data from SoSoValue.
When taken in combination, the total net outflow among spot bitcoin ETFs amounted to nearly $224 million.
When looking at the past week, nearly $1 billion in bitcoin flowed into the U.S. bitcoin ETFs — with BlackRock's product devouring the lion's share.
RELATED INDICES
Overall, cumulative spot bitcoin ETF volumes have decreased at a steady rate since peaking in early March.
The price of bitcoin is currently above $70,500, according to The Block's Bitcoin Price Page.
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