FBTC came in as the Bitcoin spot ETF with the highest net inflow last week.
By Mayowa Adebajo
Edited by Julia Sakovich
Updated
2 mins read
As SoSoValue data suggests, a notable amount of capital made its way into Bitcoin spot ETFs in the previous week. During this time, the funds added a net $245 million, thanks to funds like Fidelity’s Bitcoin ETF (FBTC) and ARK & 21Shares Bitcoin ETF (ARKB).
FBTC came in as the Bitcoin spot ETF with the highest net inflow last week. The fund saw a substantial $275 million in inflows, pushing its total historical net inflows to an impressive $12.11 billion. From all indications, FBTC continues to be the role model among Bitcoin spot ETFs and consistently outperforms others.
The second-largest inflow came from ARK & 21Shares Bitcoin ETF (ARKB), which recorded a net inflow of $202 million in the week in review. This means that ARKB has now also attracted a total of $2.69 billion in historical net inflows. While this may be a long distance from the numbers FBTC is doing, it goes without saying that ARKB is also a relevant player in the market.
Despite the stellar performances of the two funds, it might be worth noting that some funds still did not see net positive flows last week. Among them is Grayscale’s Bitcoin Trust (GBTC), which recorded the highest net outflow after losing $167 million in the week. For GBTC, its total net outflow now stands at $21.52 billion, a testament to the challenges faced by the fund.
At the moment, the total net asset value of Bitcoin spot ETFs stands at $111.46 billion. This means that these ETFs represent 5.72% of the total Bitcoin BTC $92 263 24h volatility: 2.5% Market cap: $1.82 T Vol. 24h: $66.34 B market value. The takeaway from this is that the influence of funds on the broader crypto space is growing day by day. As of the week ended, the cumulative historical net inflows for all Bitcoin spot ETFs have reached $35.91 billion.
Notably, the varying flows experienced by the funds last week ended up in a positive overall trend for Bitcoin spot ETFs. At least, the strong performances from Fidelity and ARKB saw to that.
As investors continue to show interest in these funds, keen observers will also be on the lookout to see how their movements affect the crypto market in general.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Mayowa is a crypto enthusiast/writer whose conversational character is quite evident in his style of writing. He strongly believes in the potential of digital assets and takes every opportunity to reiterate this. He's a reader, a researcher, an astute speaker, and also a budding entrepreneur. Away from crypto however, Mayowa's fancied distractions include soccer or discussing world politics.
