Grayscale Bitcoin Trust Struggles with Investor Outflows Despite May Influx

The Grayscale Bitcoin Trust (GBTC), a spot Bitcoin exchange-traded fund (ETF), experienced a brief resurgence in investment inflows in early May, following a substantial period of financial hemorrhaging since its inception. Despite this, the fund quickly reverted to outflows within just a few days, reflecting its ongoing struggles in the highly volatile cryptocurrency market. GBTC debuted on January 11 and suffered consistent outflows for 78 consecutive days, resulting in a total loss of over $17.5 billion. A temporary reversal occurred in early May, with inflows recorded on May 3 and May 6, totaling $63 million and $3.9 million respectively. This