Grayscale's GBTC spot Bitcoin exchange-traded fund (ETF) witnessed an astronomically high daily inflow of $63M. With this surge in net flow, the popular ETF successfully ended a 78-day streak of consecutive outflows on May 4.
Despite the recent inflow, GBTC's assets under management have seen a decline, falling 53% from approximately 619K BTC to 291K BTC since their release on January 11.
It is worth noting that Friday's inflow was not exclusive to GBTC; other spot Bitcoin ETFs also witnessed substantial net inflows. Franklin Templeton’s EZBC registered a record daily net inflow of almost $61M, while Bitwise’s BITB ETF hit a $33.5M inflow.
Meanwhile, Bitcoin (BTC) also witnessed an upsurge in its pricing. As of writing, the most popular crypto token is valued at $63.5K, up by 2.8% over the last 24 hours.