After a streak of five consecutive days marked by net capital outflows, U.S. spot bitcoin exchange-traded funds (ETFs) witnessed a slight resurgence on Friday, registering a modest inflow of nearly 900 bitcoins, amounting to a total of $59.7 million siphoned from the market. Simultaneously, the stability of Grayscale’s Bitcoin Trust (GBTC) hangs in the balance as it hovers perilously close to dipping below the 300,000 BTC threshold, reporting a holding of 304,970.43 bitcoins as of Monday, 4 p.m. Eastern Time.

The past week posed considerable challenges for U.S. spot bitcoin ETFs, grappling with a prolonged spell of consecutive outflows over five days, culminating in a cumulative loss of $319.1 million. However, a turnaround materialized during Friday's trading sessions, marking a notable shift in the market dynamics.

Coinciding with the halving event on April 19, the trade volume of spot bitcoin ETFs surged to approximately $2.35 billion, while concurrently witnessing inflows totaling $59.7 million. In stark contrast, Grayscale’s Bitcoin Trust (GBTC) continued to experience customary outflows on Friday, further exacerbating its precarious position.

Ahead of the market opening on April 19, GBTC's bitcoin holdings stood at 306,399.09. However, this reserve has steadily dwindled, reaching 304,970.43 bitcoins, indicating a notable reduction of 1,428.66 bitcoins since the commencement of Friday's trading sessions.

On the same day, Blackrock’s IBIT reported holding 273,140.85 bitcoins, which subsequently increased to 273,596.44 by April 22. Blackrock finds itself on the cusp of bridging the gap with GBTC's holdings, requiring only an additional 31,373.99 bitcoins to achieve parity. Meanwhile, as IBIT continues to accrue more assets, GBTC's reserves face continued erosion.

Collectively, IBIT and GBTC commandeer a combined total of 578,566.87 bitcoins, valued at $38.46 billion, constituting approximately 2.93% of the total circulating supply of 19.68 million BTC. In addition to GBTC and IBIT, the top three spot bitcoin funds collectively hold a substantial stash of 229,300.57 bitcoins.

Among these, Fidelity’s FBTC emerges as the dominant player, boasting a substantial holding of 152,465.48 bitcoins. Ark Invest’s ARKB fund trails with a reserve of 43,176 BTC, while Bitwise’s BITB secures 33,659.09 bitcoins, as of April 22. Collectively, these three funds alone commandeer a notable 1.16% of the total circulating BTC supply.