🎢 Rollercoaster alert! Grayscale Bitcoin Trust (GBTC), a spot Bitcoin ETF, had a brief moment of glory in early May with inflows of $63M & $3.9M, after a whopping $17.5B loss since its debut. 📉 But alas, the joy was short-lived. By May 7 & 9, outflows of $28.6M & $43.4M were reported, wiping out the gains. 🙈
Meanwhile, other Bitcoin ETFs are having a party. 🎉 BlackRock's iShares Bitcoin Trust raked in nearly $15.5B, while Fidelity's Wise Origin, Bitwise, and Cathie Wood's ARK 21Shares reported net inflows of $8.1B, $1.7B, and $2.2B respectively. 💰
Despite GBTC's daily loss of $211M, the overall Bitcoin ETF market in the U.S. is still in the green with a net balance of $11.7B. 📈
Thoughts on GBTC's rollercoaster ride? 🎢 Comment below! #DeFi #Web3 #CryptoNews