Spot Bitcoin ETFs faced challenges at the end of April and particularly on May 1, but have since experienced 10 consecutive days of positive inflows.

Bitcoin's price has been volatile, influenced by news about Ethereum ETFs, but it is now approaching $69,000.

A significant milestone for the cryptocurrency industry occurred in January when the US Securities and Exchange Commission approved nearly a dozen spot Bitcoin ETFs after a decade of rejections and delays. These ETFs quickly attracted billions of dollars. However, in April, the trend reversed with numerous days of outflows, peaking on May 1 with withdrawals exceeding $560 million.

The situation improved in the following weeks, notably after favorable US CPI data for April. Since May 10, the largest ETFs have seen positive inflows, matching a 10-day record set in March. Notable inflows occurred on May 15 and 21, each surpassing $300 million, and May 24 exceeded $250 million.

BlackRock’s IBIT leads in inflows, having attracted over $16.35 billion. Grayscale remains the leader with $20 billion, but outflows suggest BlackRock may overtake it soon. Overall, total inflows for all ETFs are close to $13.7 billion.

Ethereum also had positive developments this week with the US SEC approving eight spot ETH ETFs, though their launch dates are uncertain.

Bitcoin's price has reacted with significant volatility to the Ethereum news, rising from $67,000 to $72,000 before dropping below $66,000. The past 24 hours have been more positive, possibly due to strong inflows, and BTC is now near $69,000.