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Quick Take U.S.-based spot Bitcoin ETFs ended their streak of ten trading days of positive net inflows on Friday, with most funds seeing no significant inflows or outflows and Fidelity’s FBTC shedding $93 million. The streak was the longest of the year so far. The price of bitcoin is nearing its worst Q1 close since 2018; BTC is down around 2% in the past 24 hours. Meanwhile, spot Ethereum ETFs logged a rare day of net inflows led by Grayscale’s ETHE — their second such day in March, according to SoSoValue
Quick Take Daily exchange volumes have dropped from a $126 billion post-election peak to $35 billion, returning to pre-election levels amid market uncertainty. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take The FTX estate is set to begin repaying its creditor claims over $50,000 in value on May 30. Creditor repayments could take time given a large volume of likely fraudulent claims, one of FTX’s bankruptcy attorneys said, according to a Bloomberg report. The cryptocurrency claims are valued as of the bankruptcy petition date, November 11, 2022; the price of BTC is currently 5x higher than that value.