#Gate广场五月交易分享

The US spot Bitcoin ETF experienced its first outflow in five days, totaling $277.5 million.
The spot Bitcoin ETF recorded its first daily outflow of $277.5 million.
Although Morgan Stanley's fund did not experience an outflow, it slightly declined at the opening of the Nasdaq.
After five consecutive days of net inflows, the US-traded spot Bitcoin ETF faced significant outflows. Despite investors injecting about $1.7 billion into the fund over the past week, Thursday's outflow reached $277.5 million. This was also the first single-day net outflow since May.
Fidelity's Wise Origin Bitcoin Fund, known for continuous inflows, experienced its largest outflow on Thursday, losing $129 million. BlackRock's iShares Bitcoin Trust ETF was also affected, decreasing by $98 million. The unexpected decline of these two large funds, which had recently seen increased trading volume, triggered short-term market volatility.
After Bitcoin's price broke above $82,000 on Wednesday, the next day it fell below the critical $80,000 level. Data shows that this sudden drop in Bitcoin's value sparked activity among short-term investors. It is believed that the fund's outflows are directly related to this price volatility.
Experts point out that recent increased volatility and profit-taking are beginning to impact the ETF market. In the context of rising interest in spot ETFs, the day's decline reflected active short-term investors.
Despite overall market outflows, Morgan Stanley, the first US bank to launch a spot Bitcoin ETF, maintained steady growth. The Morgan Stanley Bitcoin Trust ETF managed by the company saw an inflow of $7.3 million on Thursday. According to the institution's data, since its launch on April 8, 2026, the fund has not experienced a net outflow.
As of now, Morgan Stanley funds have accumulated 2,920 Bitcoins for clients, with a total asset value of $232.6 million. Since inception, assets have grown by 557%.
On the same day, Grayscale's new low-cost Bitcoin Mini Trust ETF also saw inflows in a few funds, while the traditional Grayscale Bitcoin Trust showed no net change.
Overall pressure in the crypto market has affected investors' risk appetite. As a result, the index measuring investor sentiment fell to 38 on Friday, entering the "fear" zone. Although this index remains well above the April average of 17, Bitcoin has risen about 11% over the past 30 days.
Industry commentators note that overall market sentiment is characterized by volatility and short-term fluctuations. The focus in the coming days will be whether investor interest and price movements can find a new balance.