Cryptocurrency markets left a painful April behind and entered May in a similar fashion. Data for spot Bitcoin ETFs dated May 1 showed record outflows.
Spot Bitcoin ETFs have been continuing their fast and accelerated journey for the last 1 month. Looking at the data for May 1, it was observed that there were outflows close to 564 million dollars.
The biggest source of these outflows was not Grayscale as usual, but Fidelity.
BlackRock was also among the institutions that closed the day negatively. The outflow from BlackRock was recorded as 36 million dollars.
The decline in Bitcoin price in the last 1 month seems to have affected the performance of spot Bitcoin ETFs.
