Market data shows Fidelity’s Wise Origin Bitcoin Fund (FBTC) recorded the largest inflow on May 13, as the broader exchange-traded fund (ETF) market experienced $66 million in positive flows, despite several products seeing no activity that day.
According to Farside Investors, Bitcoin (BTC) ETFs saw a combined net inflow of $66 million after experiencing several days of net outflows. Fidelity’s FBTC led the way with an inflow of $38.6 million, making it one of the few ETFs to see positive flows that day.
Following Fidelity, the Bitwise Bitcoin ETF (BITB) registered an inflow of $20.3 million. The VanEck Bitcoin Trust (HODL) also saw positive inflows after multiple days of zero activity from May 7 to May 10.
These inflows ended a two-day streak of net outflows for Bitcoin ETFs, which had been driven by capital exiting the Grayscale Bitcoin Trust (GBTC). On May 13, GBTC saw zero flows, allowing inflows from other products to positively impact the overall daily figures.
Interestingly, the BlackRock iShares Bitcoin Trust (IBIT) experienced a day of zero flows for the third time this month, following two consecutive days of inflows. Similarly, the Ark 21Shares Bitcoin ETF (ARKB) reported its second consecutive day of zero flows.
On May 3, all Bitcoin ETFs recorded inflows for the first time since January, when the ETF launched in the U.S. On that day, GBTC also saw its first inflow after a series of consecutive outflows that had significantly reduced its Bitcoin holdings and negatively affected the broader spot Bitcoin ETF market.
Fidelity’s Wise Origin Bitcoin Fund, along with other Bitcoin ETFs, continues to play a crucial role in providing exposure to Bitcoin for investors, reflecting ongoing interest and activity in the cryptocurrency market.
Summary Review: The recent positive inflows for Bitcoin ETFs, led by Fidelity’s Wise Origin Bitcoin Fund, mark a significant shift after days of net outflows. This trend highlights renewed investor confidence in Bitcoin ETFs, despite some products experiencing zero flows. The inflows also indicate a potential stabilization in the market following earlier volatility driven by the Grayscale Bitcoin Trust. As Bitcoin ETFs gain traction, they remain a key vehicle for investors looking to gain exposure to the cryptocurrency market, underscoring the evolving dynamics of digital asset investment.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
