News

Fidelity Spot Bitcoin ETF Leads Inflows With $155 Million

Key Points:

  • Fidelity spot Bitcoin ETF leads with a $155 million net inflow, surpassing GBTC’s $139 million outflow.
  • BlackRock’s IBIT and Fidelity Wise’s FBTC witnessed notable surges in pre-market trading, reflecting a strong fund influx on Friday.
Farside Investors data reveals a significant shift in inflows and outflows among prominent Bitcoin exchange-traded funds (ETFs).
Fidelity Spot Bitcoin ETF Leads Inflows With $155 Million 2

Read more: Bitcoin Spot ETF and Futures ETF: Differences To Make The Right Investment Choice

Fidelity Spot Bitcoin ETF Leads Bitcoin ETF Inflows

Fidelity spot Bitcoin ETF (FBTC) emerged as a frontrunner, witnessing a substantial net inflow of $155 million on Friday, outpacing its competitors. This surge effectively covered the net outflow of $139 million experienced by Grayscale’s GBTC. Meanwhile, the overall net inflow for Bitcoin spot ETFs in the US on March 15th reached $42 million.

Pre-market trading today witnessed remarkable surges in BlackRock’s IBIT and Fidelity spot Bitcoin ETF, both leading spot Bitcoin ETFs, propelled by robust fund inflows. This trend was mirrored by competitors such as Grayscale’s GBTC, VanEck’s HODL, and Valkyrie’s BRRR.

Fidelity spot Bitcoin ETF stands out among four selected ETFs, alongside BlackRock’s IBIT, Franklin Templeton’s EZBC, and Invesco’s BTCO. Fidelity’s track record of successfully launching new product strategies, coupled with ample resources and expertise, earned it this distinction.

Despite Fidelity’s significant inflows, BlackRock’s IBIT lagged behind with only $20.5 million in inflows, indicating a notable shift in the distribution of ETF inflows.

Genesis GBTC Outflows Decline as Grayscale Plans Spin-Off Strategy

The decline in outflows from GBTC is attributed to diminishing selloffs, which are nearing their conclusion. A significant development came as crypto lender Genesis secured bankruptcy court approval to sell 35 million GBTC shares valued at $1.3 billion.

This move aims to implement the spin-off, with Grayscale filing to list shares of a new investment product named the Grayscale Bitcoin Mini Trust, which will receive a portion of bitcoin held by GBTC. Notably, GBTC’s net outflows have surpassed $11.12 billion to date.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Qubetics, Cosmos, and Chainlink: Why These Cryptos Are Your Best Bet for November 2024

Discover why Qubetics, Cosmos, and Chainlink are the best cryptos to buy in November 2024.…

3 hours ago

Best Cryptos to Buy in December 2024: Qubetics Presale Goes Ballistic as Ethereum and Quant Look to Build Momentum

Best Cryptos to Buy in December 2024: Qubetics ($TICS) presale explodes, Ethereum (ETH) eyes a…

6 hours ago

USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products

Palo Alto, California, 21st November 2024, Chainwire

8 hours ago

Best Cryptos to Buy: Qubetics Set to Rise, Bitcoin Knocks at $100k Milestone, Avalanche to Release 1.67M Tokens

Best Cryptos to Buy: Qubetics presale rockets ahead, Bitcoin nears $100k, and Avalanche prepares to…

8 hours ago

Ike Goes Live on Mainnet: Unlocking Liquid Staking on Aleph Zero

London, United Kingdom, 21st November 2024, Chainwire

9 hours ago

Native USDC on Aptos Coming Soon to Boost DeFi and P2P Transactions

The move will see developers utilize USDC on Aptos in creating dApps on a wide…

9 hours ago

This website uses cookies.