Welcome to the daily update on institutional Bitcoin flows, from Apollo.

Now entering the flow state…🌊🌊🌊

Total Flows

Bitcoin Spot ETFs collectively saw +600BTC net inflow yesterday.

IBIT

Blackrock was again a big buyer, stacking the dip to the tune of 2.3k BTC.

GBTC

Another big sell-off for Grayscale, with 1.3k BTC outflows.

Microstrategy (MSTR)

MSTR is still trading at a huge premium to NAV, despite wall street skepticism and heavy short-selling.

See you tomorrow!