Bitcoin Spot ETFs Attract $245 Million, Led by Fidelity’s $275 Million Inflow
Data from SoSoValue indicates a significant influx of capital into Bitcoin spot ETFs, with a net addition of $245 million last week. This was primarily driven by Fidelity’s Bitcoin ETF (FBTC) and ARK & 21Shares Bitcoin ETF (ARKB).
Fidelity Bitcoin ETF FBTC Dominates with Major Inflows, Grayscale Faces Net Outflows
FBTC reported the highest net inflow among Bitcoin spot ETFs, attracting $275 million and bringing its total historical net inflows to $12.11 billion. FBTC continues to outperform other Bitcoin spot ETFs.
ARK & 21Shares Bitcoin ETF (ARKB) followed with a net inflow of $202 million, totaling $2.69 billion in historical net inflows. While trailing FBTC, ARKB remains a significant market player.
Conversely, Grayscale’s Bitcoin Trust (GBTC) experienced the largest net outflow of $167 million, resulting in a total net outflow of $21.52 billion, highlighting the fund's challenges.
Positive Momentum
The total net asset value of Bitcoin spot ETFs is currently $111.46 billion, representing 5.72% of the overall Bitcoin market value. This growth illustrates the increasing influence of these funds within the broader crypto space. Cumulative historical net inflows for all Bitcoin spot ETFs have reached $35.91 billion.
The contrasting flows among various funds contributed to a positive trend for Bitcoin spot ETFs, bolstered by the strong performances of Fidelity and ARKB.
Investor interest in these funds is rising, prompting observers to monitor their impact on the cryptocurrency market closely.