Fidelity’s Wise Origin Bitcoin Fund (FBTC) took the lead on May 15, attracting $131 million in inflows. Overall, the spot Bitcoin (BTC) exchange-traded fund (ETF) market saw a total net inflow of $303 million, according to market data.
Notably, FBTC has been leading the charge in the spot Bitcoin ETF market recently, surpassing major investment products like BlackRock’s iShares Trust Fund (IBIT). After days of outflows due to crypto market turbulence, the broader market saw its third consecutive day of net inflows yesterday.
Market data from Farside Investors shows that several ETFs started the week with no flows, including IBIT. On May 15, IBIT was the sole spot Bitcoin ETF with zero flows, marking its sixth day of zero flows this month.
Earlier reports indicated that BlackRock’s IBIT saw its first day of zero flows on April 24 since the launch of spot Bitcoin ETFs in January. On that day, multiple ETFs also reported zero inflows, except for Fidelity’s FBTC and ARK’s ARKB.
Despite a period of outflows from April 29 to May 1, Fidelity’s FBTC has continued to attract significant capital, outperforming other ETFs for the fifth time this month.
Other notable performers include the Bitwise Bitcoin ETF (BITB) and Ark 21Shares Bitcoin ETF (ARKB), with inflows of $86.3 million and $27 million, respectively. Grayscale Bitcoin Trust (GBTC) also saw inflows totaling $27 million. On May 14, GBTC experienced an outflow of $50.9 million.
In earlier May, all spot Bitcoin ETFs saw inflows, though Bloomberg analyst Eric Balchunas expressed doubt that this trend would persist. Despite recent capital outflows and Bitcoin dipping below $60,000, over 95% of investors held onto their investments without selling, as per Balchunas.
Summary Review: The recent influx of $303 million into BTC ETFs underscores the ongoing bullish sentiment in the market. Fidelity’s FBTC stands out as a top performer, consistently attracting significant investments and outperforming competitors. Despite fluctuations and periods of outflows, investor confidence remains high, with most holding onto their positions even during market turbulence. While the future trajectory of BTC ETF flows remains uncertain, the resilience displayed by investors suggests a strong underlying belief in the long-term potential of Bitcoin and cryptocurrency investments.
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.
