In contrast, this month has been marred by several unfavorable developments. The Securities and Exchange Commission (SEC) targeted Robinhood, joining the growing list of crypto-related companies facing regulatory scrutiny. Additionally, Bitcoin exchange-traded funds (ETFs) experienced a significant net outflow on May 7, in stark contrast to the substantial inflows surpassing $500 million recorded in the preceding two days. Despite these setbacks, there was a glimmer of optimism this week as investment firm Susquehanna revealed its robust ETF reserve amounting to $1.3 billion. As of the time of writing this article, Bitcoin was trading at $62,400.
