Bitcoin: How BTC’s $80K stayed intact despite $268M ETF outflows
The post Bitcoin: How BTC’s $80K stayed intact despite $268M ETF outflows appeared on BitcoinEthereumNews.com. The Spot Bitcoin [BTC] Exchange Traded Funds (ETFs) had a great start to the month of May. On the 1st of May, BTC ETFs recorded inflows worth $629.8 million, wherein BlackRock’s IBIT recorded inflows worth $284.4 million. Following the trail was Fidelity’s FBTC, which recorded inflows worth $213.4 million. Interestingly, while many asset managers saw zero flows, Morgan Stanley’s MSBT, which is fairly new to the game, recorded inflows worth $4.5 million. Going forward, almost similar patterns were seen on the 4th and 5th of May. Bitcoin ETFs flipped from inflows to outflows On the 6th of May, ETF inflows fell as cumulative inflows reached $46.2 million, driven by IBIT’s $134.6 million. However, heavy outflows from FBTC, Bitwise’s BITB, Franklin Templeton’s EZBC, and Grayscale’s GBTC offset most of the gains, leaving net inflows minimal. Source: Farside Investors The actual pl