Odaily Planet Daily News Bloomberg's ETF analysts have put forward some theories about the two consecutive days of inflows into Grayscale's spot Bitcoin exchange-traded fund. Grayscale's spot Bitcoin ETF ended a 78-day outflow of funds 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."