As the Bitcoin ETF wind continues to blow, outflows from GBTC dropped to their lowest level

The spot Bitcoin ETF trend in the USA continues unabated. While there was a net inflow of $520 million into ETFs on the first trading day of the week, this demand enabled the Bitcoin price to step into the $57,000 range.

The Bitcoin ETF market, which made a strong start to the week after last week's partially stagnant course, continues to be a catalyst for the cryptocurrency markets. While 9 ETF products in the market saw net inflows yesterday, outflows from Grayscale's ETF product GBTC continued.

BlackRock maintains its lead with IBIT reaching $6 billion since launch with inflows of over $110 million. But Fidelity's FBTC product stood out yesterday, raising over $240 million in funding. These two asset management companies are followed by Ark 21Shares' ETF, ARKB.