According to Odaily Planet Daily, Bloomberg's ETF analysts have put forward some theories about the two consecutive days of capital inflows into Grayscale's spot Bitcoin exchange-traded fund. Grayscale's spot Bitcoin ETF ended 78 days of capital outflows after recording net inflows for two consecutive days. Analyst James Seyffart said he was not entirely sure what might have caused the volatility, but there could be several different explanations. He said: "This could be a short-term tactical transaction or some kind of hedging transaction. In a shorter time frame, fees are far less important."