Bitcoin ETF

Grayscale Bitcoin Trust

Spot

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/surge-in-fidelitys-spot-bitcoin-etf-attracts-major-capital-inflows" rel="noopener noreferrer nofollow">Surge in Fidelity’s Spot Bitcoin ETF Attracts Major Capital Inflows</a><br></p>
<p style="text-align: justify">Fidelity’s spot <a href="https://en.bitcoinhaber.net/bitcoins-resurgence-and-prospects-for-further-gains" rel="noopener noreferrer nofollow">Bitcoin</a> ETF witnessed a significant capital inflow of $208 million on January 29, marking a notable event as it surpassed the outflows from Grayscale Bitcoin Trust (GBTC) for the first time since its inception, excluding its launch day. On the same day, GBTC saw a substantial outflow of $192 million, indicating a shift in investor interest towards Fidelity’s FBTC product.</p>
<h2 id="shifting-tides-in-bitcoin-investment-vehicles">Shifting Tides in Bitcoin Investment Vehicles</h2>
<p style="text-align: justify">GBTC’s recent outflows represent a significant decrease from previous figures, with a 25% drop from $255 million on January 26 and a steep 70% decline from the highest daily outflow of $641 million on January 22. This also signifies the second-lowest outflow day since January 11. Investors and analysts are closely monitoring these outflows, which could suggest a slowdown and a potential easing of downward pressure on Bitcoin prices.</p>
<p style="text-align: justify">The overall market for spot Bitcoin ETFs in the US is expanding, with nine new products reaching a combined volume of $994.1 million on January 29, nearly doubling GBTC’s volume. BlackRock’s iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund were among the top performers, contributing significantly to the total volume.</p>
<p style="text-align: justify">In the competitive landscape of Bitcoin ETFs, issuers are actively reducing commission fees to attract more investors. Invesco and Galaxy Asset Management have joined the trend, announcing a fee reduction for their Invesco Galaxy Bitcoin ETF, aligning with other major players like BlackRock and Fidelity.</p>
<p style="text-align: justify">The fee reductions are not limited to the US market; European ETF providers are also slashing fees. Invesco, WisdomTree, and CoinShares have all recently announced cuts in their fees for Europe-based Bitcoin ETFs, reflecting a broader trend in the industry aimed at attracting investors through lower costs.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/surge-in-fidelitys-spot-bitcoin-etf-attracts-major-capital-inflows" rel="noopener noreferrer nofollow">Surge in Fidelity’s Spot Bitcoin ETF Attracts Major Capital Inflows</a></h5>

Surge in Fidelity’s Spot Bitcoin ETF Attracts Major Capital Inflows

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