FBTC came in as the Bitcoin spot ETF with the highest net inflow last week.
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).
Fidelity Bitcoin ETF FBTC Dominates with Major Inflows, Grayscale Faces Net Outflows
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.
Positive Momentum
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 $78 222 24h volatility: 0.5% Market cap: $1.56 T Vol. 24h: $57.47 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.
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