Fidelity’s FBTC Leads Inflows as Spot BTC ETFs See Positive Start to the Week

Fidelity’s FBTC Leads Inflows as Spot BTC ETFs See Positive Start to the Week

Market data reveals that Fidelity’s Wise Origin Bitcoin Fund (FBTC) spearheaded the largest inflow on May 13, contributing to a total positive flow of $66 million in the broader exchange-traded fund (ETF) market. This comes despite several products witnessing zero flows for the day.

According to insights from Farside Investors, Bitcoin (BTC) ETFs collectively experienced a net inflow of $66 million following consecutive days of net outflows. Notably, Fidelity’s FBTC stood out with an inflow of $38.6 million on May 13, distinguishing itself from other ETFs that recorded zero flows.

Bitwise Bitcoin ETF (BITB) followed suit with an inflow of $20.3 million, while VanEck Bitcoin Trust (HODL) also saw inflows after several days of zero flows from May 7 to May 10.

These inflows marked the end of a two-day streak of consecutive net outflows for Bitcoin ETFs, which were primarily triggered by capital exiting the Grayscale Bitcoin Trust (GBTC). With GBTC seeing zero flows on the specified day, the inflows from other products positively impacted the cumulative flow for the day.

However, some ETFs, such as the BlackRock iShares Bitcoin Trust (IBIT) and the Ark 21Shares Bitcoin ETF (ARKB), reported zero flows for the day. IBIT marked its third day of zero flows this month, following two days of inflows, while ARKB observed its second consecutive day of zero flows.

The recent positive trend in ETF inflows contrasts with the uncertainty prevailing in the market. Notably, institutional adoption remains robust, as evidenced by Wells Fargo’s recent investment in the Grayscale Bitcoin ETF, amounting to over $143,000. Additionally, the company holds shares in other Bitcoin-related products, reflecting a growing interest in crypto assets among traditional financial institutions.

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