Bitcoin ETF

Bitcoin

Billion

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 Wise Origin Bitcoin Trust by Fidelity Investments has become the second after BlackRock’s spot Bitcoin ETF to cross the $1 billion mark of Bitcoin assets under management (AUM). This development came less than 24 hours after <a style="color: #0000ff;" href="https://defi-planet.com/2024/01/blackrocks-ishares-bitcoin-etf-becomes-first-to-reach-99-bitcoin-holding-and-1-billion-aum/">BlackRock crossed the milestone</a>.&nbsp; 
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BitMEX’s <a style="color: #0000ff;" href="https://x.com/BitMEXResearch/status/1748227906931671423?s=20">report</a>, published on Friday, January 19, 2024, revealed data on the fifth trading day of nine from the<a href="https://defi-planet.com/2024/01/u-s-sec-greenlights-spot-bitcoin-etps-after-11-years-and-20-rejections/"> ten newly approved spot Bitcoin ETFs</a>. According to the data, BlackRock’s IBIT ETF had over $1.171 billion worth of assets under management (AUM), while Fidelity Investments had a total of $1.016 billion. Following FBTC were Bitwise (BITB), ARK21Invests (ARKB), Invesco (BTCO), and Franklin Templeton (EZBR), with $395 million, $320 million, $194.9 million, and $51.3 million, respectively. 
At the far end of the table was Grayscale Bitcoin Trust Shares (GBTC), which had a total of $23.1 billion worth of assets under management (AUM) but had been significantly underperforming since its launch on January 11. The investment giant had experienced massive outflows of $93.6 million, $478.4 million, $590.1 million, and $458.3 million on the 1st, 2nd, 3rd, and 4th trading day, respectively.&nbsp; 
BitMEX Research also noted, <a style="color: #0000ff;" href="https://x.com/bitmexresearch/status/1748223915493646571?s=46">in a post on X</a>, that there was a net outflow of $131.6 million on the 5th trading day for the other ten new Bitcoin ETFs, whereas GBTC independently had a massive outflow of $579.6 million on the same day.&nbsp; 
Meanwhile, these <a style="color: #0000ff;" href="https://defi-planet.com/2024/01/grayscales-gbtc-records-1-1-billion-exodus-following-discount-drop/">massive outflows from GBTC</a> have been attributed to investors seeking to take advantage of the low trading fees on the other approved spot Bitcoin ETFs. GBTC’s trading fee is about 1.5%, while spot Bitcoin ETFs like BlackRock’s iShares Bitcoin Trust (IBIT) is only about 0.25%.&nbsp; 
Fidelity’s FBTIC had the highest net flows on the fifth trading day, <a style="color: #0000ff;" href="https://x.com/BitMEXResearch/status/1748223915493646571?s=20">with a total of about $177.9 million</a>. BlackRock’s IBIT followed closely with over $145 million. 
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The post <a rel="nofollow" href="https://defi-planet.com/2024/01/fidelitys-bitcoin-etf-crosses-1-billion-aum-following-blackrocks-lead/">Fidelity’s Bitcoin ETF Crosses $1 Billion AUM Following BlackRock’s Lead</a> appeared first on <a rel="nofollow" href="https://defi-planet.com">DeFi Planet</a>.

Fidelity’s Bitcoin ETF Crosses $1 Billion AUM Following BlackRock’s Lead

DeFi Planet

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