Bitcoin ETF Flows Surge, Driving Record Volumes and Slowing GBTC Outflows

Spot Bitcoin ETF flows turned positive this week, with Fidelity's FBTC leading the inflows and Grayscale's GBTC outflows slowing. The combined U.S. spot Bitcoin ETFs saw net inflows of $113.5 million on Wednesday, surpassing the previous day's outflows. Grayscale's GBTC fund has experienced significant outflows, falling 47% from around 619,000 BTC to 328,000 BTC. Despite the slowdown in outflows, overall spot Bitcoin ETF daily flows and volume have been declining since peaking in March.