The inflows in spot Bitcoin ETFs had slowed down with the decline in the Bitcoin price in April. The outflows in ETFs, which closed negative for 3 consecutive weeks, have been recovering in recent days. Grayscale, which has consistently closed the day negatively since the adoption of spot ETFs, first saw a positive trend on Friday. In addition, yesterday's data showed that Grayscale closed the day positively for the second time.
The SEC announced in the evening that it postponed the spot Ethereum ETF application of Invesco Galaxy. The expectation for the approval of spot Ethereum ETFs in May is still ongoing. ETF applications of other companies take place on different days of May. How the SEC will respond to these applications is closely followed by investors.
At the time of writing, Bitcoin (BTC) is trading at $63,478 and Ethereum (ETH) is trading at $3,076.
The fear and greed index is neutral at “57”.
Important developments for the day:
MultiversX (EGLD): “DevX Session” will be held on X for the ecosystem and developers.
General Market Activity: Australian interest rate decision will be announced.
