On Monday, May 13, Hong Kong’s spot Bitcoin and Ethereum ETFs saw a total outflow of $39.3 million, according to preliminary data from Farside Investors., the funds had a net redemption of 519.5 BTC in a single day, and the daily turnover was $4.25 million. There are now 3,560 BTC held in the funds worth an estimated $222.5 million at current prices.
Things were looking brighter across the pond in the United States, where Bitcoin ETFs saw a daily inflow of $66 million on May 13. Fidelity’s FBTC fund led the pack with $38.6 million, followed by Bitwise BITB, which had $20.3 million in inflows. BlackRock registered a zero but has not seen an outflow since May 1.Grayscale’s GBTC also saw a net zero flow for the day as its outflows started to slow down. Since it converted to a spot ETF, the fund has hemorrhaged roughly 330,650 BTC worth around $20 billion at current prices.Crypto markets have gained around 2% on the day to reach $2.
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