Bloomberg ETF analyst Eric Balchunas said in a social media post that year-to-date net inflows into U.S. bitcoin spot ETFs reached $17 billion for the first time. This is the most noteworthy number because it is the net amount unlocked by GBTC and is independent of price appreciation. There are basically no gimmicks and can only grow through net demand and adoption. And it may be down, but it is now rising.