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Fidelity’s Wise Origin Bitcoin Fund Surpasses $1 Billion Inflows, Marking Rapid Success in Spot Bitcoin ETF Market

Fidelity’s Wise Origin Bitcoin Fund has emerged as the second spot Bitcoin ETF to attract over $1 billion in inflows, achieving this milestone within just five days of trading. Following the initial success of BlackRock’s iShares Bitcoin Trust (IBIT), which became the first newly approved BTC ETF to surpass $1 billion in assets under management on January 17, Fidelity’s FBTC had accumulated $874 million in inflows up to that point.

BitMEX Research shared provisional data on January 19, revealing that Fidelity’s total inflows exceeded $1 billion on the fifth day of trading, positioning it just behind BlackRock’s achievement of $1.2 billion. This development underscores the increasing investor interest in Bitcoin (BTC) and related investment products, signifying a significant moment in cryptocurrency investment.

Fidelity’s accomplishment places it ahead of Bitwise’s BITB fund, which reported $395 million in inflows, highlighting the competitive nature of the market. Other spot Bitcoin ETFs that have shown notable performance since trading commenced on January 11 include ARK 21Shares’ ARKB and Invesco’s BTCO, with inflows of $320 million and $194 million, respectively.

Despite the impressive start, the overall market experienced a substantial outflow on the fifth day of trading, totaling $131 million across all spot Bitcoin ETFs. This outflow marked the largest observed since the launch of these funds. Notably, Grayscale recorded $2.2 billion in outflows, underscoring the inherent volatility of the cryptocurrency market.

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