The losing streak for Bitcoin ETFs in the US finally ended, with positive flows returning. On Friday, there were first-ever inflows of $63 million into the Grayscale Bitcoin ETF. This followed the announcement of lower-than-expected US nonfarm payrolls data on May 3, Friday, which led to a quick surge in Bitcoin prices.

Investors in GBTC may find some relief as the ETF saw the first inflows since its inception in January 2024. Despite the modest size of the inflow, it marks a positive shift in the market. The spot Bitcoin ETFs also experienced a substantial net inflow of $378 million on May 3, ending a seven-day losing streak. Fidelity ETF FBTC also saw a net inflow of $103 million in a single day.

BlackRock's IBIT received just $12.7 million on Friday, ranking second to last. Competitors like Fidelity are gaining ground in the market, while companies in Hong Kong are also investing in US spot Bitcoin ETFs. Yong Rong Asset Management, a Hong Kong investment firm, acquired $38 million worth of the BlackRock iShares Bitcoin ETF (IBIT) and is now the largest holder with over 12% ownership. The low management costs and high liquidity of US spot Bitcoin ETFs continue to attract investors worldwide.