Bitcoin

Spot

Billion

Data from the trading analytics platform BitMEX Research <a href="https://x.com/BitMEXResearch/status/1748223915493646571?s=20" target="_blank" rel="noopener nofollow">reveals</a> that Fidelity’s Bitcoin spot ETF – FBTC – has now witnessed a total inflow of over $1 billion. This development comes as BTC attempts to rebound from its recent dip over the last two weeks with a 1.56% gain in the past day, based on <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener nofollow">data from CoinMarketCap</a>.&nbsp;&nbsp; 
<h2 id="fidelity-joins-blackrock-on-exclusive-1-b-list-as-grayscale-s-etf-continues-to-bleed">Fidelity Joins BlackRock On Exclusive $1-B List, As Grayscale’s ETF Continues To Bleed</h2> 
Following the official launch of Bitcoin spot ETF trading on January 11, Fidelity has now become the second asset manager, with its BTC spot ETF recording an accumulative inflow of $1 billion. According to BitMEX Research, Fidelity’s FBTC experienced an inflow of $177.9 million on January 18, bringing its total inflows to $1.1 billion within five days of trading.&nbsp; 
FBTC now sits at the same table as BlackRock’s IBIT, whose total inflows are valued at $1.2 billion. Together, both investment funds by Fidelity and BlackRock now account for over 67% of the $3.4 billion inflows recorded in the Bitcoin spot ETF market so far.&nbsp; 
Other Bitcoin spot ETFs with a notable positive performance include Bitwise’s BITB, Ark Invest’s ARKB, and Invesco’s BTCO, which have posted individual total inflows of $395.5 million, $320.9 million, and $194.8 million, respectively.&nbsp; 
<blockquote class="twitter-tweet"> 
 Bitcoin Spot ETF Flow data – Day 5 
 Data out for all providers 
 Net outflow of $131.6m on day 5 for all spot ETFs, large $579.6m GBTC outflow <a href="https://t.co/McHZrRghtu" rel="nofollow">pic.twitter.com/McHZrRghtu</a> 
 — BitMEX Research (@BitMEXResearch) <a href="https://twitter.com/BitMEXResearch/status/1748223915493646571?ref_src=twsrc%5Etfw" rel="nofollow">January 19, 2024</a>
</blockquote> 
On the other hand, Grayscale’s GBTC continues to <a href="https://www.newsbtc.com/bitcoin-news/bloodbath-for-bitcoin-grayscales-529-million-btc-move-to-coinbase-pushes-price-below-41000/" target="_blank" rel="noopener ">experience outflows on a massive scale</a>.&nbsp; 
BitMEX Research reveals that GBTC recorded an outflow of $579.6 million on January 18, leading the Bitcoin spot ETF market to witness a net outflow of $131.6 million. This represented the second day the BTC spot ETF market recorded a net outflow since its launch.&nbsp; 
GBTC’s total outflows are now valued at $2.1 billion, resulting in Bitcoin spot ETFs having a cumulative net inflow of only $1.3 billion despite the $1 billion status of BlackRock and Fidelity’s ETFs. 
<img loading="lazy" decoding="async" class="alignnone wp-image-570462 size-large" src="https://www.newsbtc.com/wp-content/uploads/2024/01/IMG_4249.png?w=860&amp;resize=860%2C235" alt="Fidelity" width="860" height="235" srcset="https://www.newsbtc.com/wp-content/uploads/2024/01/IMG_4249.png?w=1498 1498w, https://www.newsbtc.com/wp-content/uploads/2024/01/IMG_4249.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/01/IMG_4249.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/01/IMG_4249.png?w=860&amp;resize=860%2C235 860w, https://www.newsbtc.com/wp-content/uploads/2024/01/IMG_4249.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/01/IMG_4249.png?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
<h2 id="bitcoin-s-price-overview">Bitcoin’s Price Overview</h2> 
Against popular predictions, Bitcoin has witnessed a price decline in the last two weeks following the <a href="https://www.newsbtc.com/breaking-news-ticker/breaking-sec-approves-all-11-spot-bitcoin-etfs-btc-price-holds-steady-at-46000/" target="_blank" rel="noopener ">approval of the much-anticipated BTC spot ETF on January 10</a>. Many analysts have attributed this unexpected development to the massive selling pressure generated by GBTC’s outflows.&nbsp; 
At the time of writing, Bitcoin trades at $41,536, with a decline of 2.55% and 5.50% in the last seven and 14 days, respectively. As earlier stated, the premier cryptocurrency has garnered some gains of 1.56% in the last day, which may be indicative of a recovery, however, it is too early to call. 
<img loading="lazy" decoding="async" class="aligncenter" src="https://www.tradingview.com/x/LP4v6ZD6/" alt="Bitcoin spot ETF" width="1479" height="893">

Fidelity Bitcoin Spot ETF Records $1 Billion In Net Inflows – Details

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