US spot Bitcoin exchange-traded funds (ETFs) saw strong inflows on May 6. All 10 spot ETFs, including Grayscale Bitcoin Trust (GBTC), saw neutral positive flows. These totaled $217 million. On May 3, GBTC saw its first day of inflows since converting to an ETF.
As long as ETF inflows remain positive, supply will increase, so it's generally quite bullish. Meanwhile, the newly launched Hong Kong spot ETF saw "very stable inflows of $8-9 million."
