Fidelity’s FBTC Spot Bitcoin ETF Achieves Record Daily Inflow, Surpassing 473 Million Dollars

Crypto News- Fidelity’s FBTC spot bitcoin exchange-traded fund experienced a groundbreaking day on Thursday, with record daily inflows soaring to $473.4 million, nearly doubling the usual dominance of BlackRock’s IBIT ETF, which amassed $244.2 million.

Notably, FBTC’s inflows yesterday surged by 17% compared to its previous record of $404.6 million set on Monday. This remarkable achievement eclipsed the total net inflows of all U.S. spot bitcoin ETFs combined, which amounted to $472.6 million on Thursday, as per BitMEX Research data. Despite this, FBTC’s inflow fell short of IBIT’s overall daily inflow record of $788 million on Tuesday.

Fidelity’s FBTC Spot Bitcoin ETF Achieves Record Daily Inflow, Surpassing 473 Million Dollars

Arl Invest 21Shares’ ARKB secured the third position with $42.1 million in inflows, followed closely by Valkyrie’s BRRR and Bitwise’s BITB with $41.8 million and $41.4 million, respectively. Since their launch on Jan. 11, the total net inflows for the ETFs have soared to nearly $9.4 billion.

However, Grayscale’s higher fee converted GBTC fund witnessed $374.8 million in outflows on Thursday, pushing its total outflows since the inception of U.S. spot bitcoin ETFs beyond $10 billion. These inflows have contributed to FBTC’s assets under management reaching approximately $8.3 billion, while the combined assets under management for all U.S. spot bitcoin ETFs exceed $54 billion.

Remarkably, excluding Grayscale’s converted fund, the nine newborn ETFs now manage nearly $27 billion in assets, led by IBIT with almost $13 billion in assets under management, according to BitMEX Research.

The nine newborn ETFs are expected to surpass GBTC’s holdings today, as reported by The Block.

Nate Geraci, President of The ETF Store, highlighted a striking statistic, stating, “Total flows into 9 new spot bitcoin ETFs over the past 2 months exceeds total flows into all physical gold ETFs over past 5 years.” He noted that physical gold ETFs boast nearly $100 billion in assets under management.

Trading volume for U.S. spot bitcoin ETFs remained robust on Thursday, reaching $4.53 billion, marking the sixth-largest volume day to date. BlackRock’s IBIT led the trading, generating $1.6 billion in volume, followed closely by Grayscale’s GBTC and Fidelity’s FBTC with $1.3 billion and $1.1 billion, respectively, according to The Block’s data dashboard.

As for Bitcoin’s current trading status, it stands at $67,252, reflecting a 1% increase over the past 24 hours. The leading cryptocurrency has surged by 10% over the past week and more than 50% over the past month, according to The Block’s price page.