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Fidelity Bitcoin ETF Now Hits $10 Billion in Bitcoin Holdings For The First Time

Key Points:

Fidelity Bitcoin ETF surpasses 150,000 BTC, valued at $10 billion, signaling a significant milestone.
BlackRock’s IBIT and FBTC maintain strong investor interest, demonstrating resilience amid Bitcoin price fluctuations.
Spot Bitcoin ETPs gain rapid popularity, with attention turning to Bitcoin’s upcoming halving in April 2024.

Fidelity Bitcoin ETF, FBTC, has amassed a staggering 150,000 BTC, totaling a remarkable $10 billion, according to data tracked by HODL15Capital. This observation comes following a notable net inflow of $83 million into FBTC on April 5.

Fidelity Bitcoin ETF Now Hits $10 Billion in Bitcoin Holdings For The First Time 2

Fidelity Bitcoin ETF Hits $10 Billion Milestone with 150,000 BTC

In contrast, Grayscale’s GBTC witnessed an outflow of $199 million, while Bitwise’s BITB experienced an inflow of $7.5 million on the same day. BlackRock’s IBIT, on the other hand, saw a substantial net inflow of $307 million.

FBTC’s achievement of surpassing $10 billion in assets under management (AUM) makes it the second spot Bitcoin ETF to do so, following BlackRock’s IBIT, which reached this milestone on March 1st.

The trading volume data for Bitcoin ETFs on April 5 indicates significant activity, with BlackRock’s IBIT leading at $1.09 billion, followed by GBTC at $554 million and FBTC at $420 million.

Investor enthusiasm for BlackRock Bitcoin ETF and Fidelity Bitcoin ETF remains robust, which is evident from their consistent inflows even during Bitcoin price declines. BlackRock has expanded its Authorized Participants list, aiming to enhance market liquidity and investor accessibility.

Spotlight on Rapid Rise of Spot Bitcoin ETPs Amid Halving Speculation

Spot Bitcoin exchange-traded products (ETPs) have rapidly accumulated substantial AUM since their introduction in early 2024. These products offer investors exposure to Bitcoin, sparking increased interest in cryptocurrencies as a legitimate asset class.

However, amid this excitement, new investors are likely pondering the implications of Bitcoin halving. With the reward for mining halving from 6.25 to 3.125 bitcoin, estimated to occur in April 2024, discussions about Bitcoin’s future trajectory have intensified.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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.