Bitcoin ETF Secures $1 Billion Inflows
Fidelity’s Wise Origin Bitcoin Fund has achieved a significant milestone in just five days of trading, becoming the second spot Bitcoin ETF to attract over $1 billion in inflows. This accomplishment closely follows BlackRock’s iShares Bitcoin Trust, which reached the $1 billion assets under management mark on January 17. By January 19, provisional data from BitMEX Research revealed that Fidelity’s total inflows had surpassed $1 billion, positioning it just behind BlackRock’s $1.2 billion. This achievement highlights the growing investor interest in Bitcoin and related products, marking a significant moment in cryptocurrency investment. Fidelity’s success also places it ahead of Bitwise’s BITB fund, which reported $395 million in inflows, demonstrating the competitiveness of the market. Other spot Bitcoin ETFs that have performed well since trading began on January 11 include ARK 21Shares’ ARKB and Invesco’s BTCO, with inflows of $320 million and $194 million respectively. However, despite the impressive start, the overall market experienced a substantial outflow of $131 million across all spot Bitcoin ETFs on the fifth day of trading, marking the largest outflow since the launch of these funds. This outflow is further emphasized by Grayscale, which recorded $2.2 billion in outflows, highlighting the volatile nature of the cryptocurrency market.
