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Fidelity’s FBTC Bitcoin ETF Sees $473 Million Inflows – Money Wiper Crypto News Blog

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Fidelity’s FBTC spot ETF saw record daily inflows of $473.4 million on Thursday, nearly tripling the $244.2 million pulled in by BlackRock’s dominant IBIT ETF.

According to BitMEX Research statistics, FBTC’s inflows yesterday were 17% higher than its previous record of $404.6 million, which was established on Monday.

This exceeded the $472.6 million total net inflows recorded on Thursday for all U.S. spot bitcoin ETFs combined. However, FBTC’s inflows fell short of IBIT’s record $788 million daily inflow on Tuesday.

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Source: Block

Yesterday, Bitwise’s BITB and Valkyrie’s BRRR both had inflows of $41.8 million and $41.4 million, respectively, placing Arl Invest 21Shares’ ARKB in third place with $42.1 million in inflows. Since the ETFs’ inception on January 11, net inflows have now totaled around $9.4 billion.

Grayscale’s higher cost converted GBTC fund saw outflows of $374.8 million on Thursday, bringing the total amount of outflows since the start of trading in U.S. spot bitcoin ETFs to above $10 billion.

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Source: Block

The inflows have helped FBTC’s assets under management to approach $8.3 billion, and the combined assets managed by the U.S. spot bitcoin ETFs exceed $54 billion.

According to BitMEX Research, the nine recently launched exchange-traded funds (ETFs) oversee around $27 billion in assets under management, with IBIT leading the pack with almost $13 billion in AUM. The converted fund from Grayscale is not included in this figure.

“Wild stat… Total flows into 9 new spot bitcoin ETFs over the past 2 months exceeds total flows into all physical gold ETFs over past *5 years*,” according to Nate Geraci, president of The ETF Store. “Physical gold ETFs = nearly $100 billion AUM.”

Also Read: Fidelity Executive Sees Bitcoin Taking 25% of Gold’s Market



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