Bitcoin ETF

Bitcoin

Spot

A prominent figure in mutual funds, Fidelity’s FBTC, drives renewed interest in Spot Bitcoin ETFs in the United States, attracting close to $600 million in total ETF inflows over the past two days. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
 <img fetchpriority="high" decoding="async" width="585" height="156" src="https://www.cryptotimes.io/wp-content/uploads/2024/06/Fidelitys-FBTC-Bitcoin-ETF-Sees-600-Million-Inflows-in-2-Days-1.png" alt="Fidelity’s FBTC Bitcoin ETF Sees 600 Million Inflows in 2 Days" class="wp-image-182201">
 <figcaption class="wp-element-caption">
 Bitcoin ETF Flow Table &nbsp;| Source :&nbsp;Farside Investors
 </figcaption>
 </figure>
</div> 
Fidelity’s FBTC, traditionally overshadowed by BlackRock, saw a significant uptick with $220 million in inflows on June 5 alone. This brought its two-day total to nearly $600 million, pushing its assets under management past $9.5 billion. Despite this surge, BlackRock’s IBIT maintains double FBTC’s size in assets. 
According to <a href="https://farside.co.uk/?p=997" target="_blank" rel="noreferrer noopener nofollow">Farside Investors</a> data, Bitcoin ETFs have experienced 17 straight days of positive inflows, with a net influx of $488 million on June 5 alone. Grayscale’s GBTC, FBTC, and IBIT attracted $14.6 million, $220.6 million, and $155.4 million, respectively, leading to cumulative net inflows surpassing $15.338 billion, a notable achievement given daily Bitcoin mining rates. 
Franklin Templeton’s CEO noted this surge as the “first wave of early adopters,” anticipating a larger institutional wave to follow. CEO Jenny Johnson emphasized that current bullish sentiment underestimates future institutional involvement in Bitcoin ETFs. 
Additionally, Franklin’s Bitcoin ETF boasts over $420 million in assets, smaller but significant in this landscape. This growth signals a broader acceptance of Bitcoin ETFs, aligning with the industry’s upward trajectory. 
Fidelity’s FBTC demonstrates growing strength in the Spot Bitcoin ETF market, showcasing resilience against larger competitors like BlackRock’s IBIT despite the latter’s double asset size. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/30/fidelitys-spot-ethereum-etf-added-to-dtcc-list/" target="_blank" rel="noreferrer noopener">Fidelity’s Spot Ethereum ETF Added to DTCC List; Awaits Regulatory Approval</a> 
</blockquote>

Fidelity’s FBTC Bitcoin ETF Sees 600M Inflows in 2 Days

The Crypto Times

Other articles published on Jun 6, 2024

Ethereum Layer 2 Taiko Permissionless Sequencing and Proving Launched

BlockDAG Attempts to Rise as Tier 1 Crypto with Keynote 2 Launch from the Moon, Leads XRP and ADA...

Solana Meme Coin MOTHER Gains Traction Despite Initial Setbacks

Crypto Exchanges Face $9B Lawsuit Over Bitcoin SV Delisting

Paxos International’s USDL: A Limited-Access Stablecoin with Yield Potential

The Ultimate List for Future Crypto Millionaires

Join our free newsletter for daily crypto updates!