It has just been revealed the fact that Fidelity is the second-spot BTC ETF issuer that hit $1 billion in inflows. Check out the latest reports about the matter below.
Fidelity in the news
According to data from BitMEX Research, the new U.S. spot bitcoin ETFs have received total net flows of nearly $1.2 billion in the first five days of trading.
Fidelity recently joined BlackRock in the $1 billion-plus inflows club. Bitwise currently holds the third place with $395.5 million worth of inflows, while Ark Invest/21Shares and Invesco have seen a total of $320.9 million and $194.9 million worth of inflows respectively. So far, 10 of the 11 ETFs have seen inflows totaling almost $3.4 billion.
Grayscale has recorded $2.2 billion in outflows, while the remaining funds have witnessed less than $100 million worth of total inflows.
Yesterday, the spot bitcoin ETFs witnessed net outflows of $131.6 million, which was the largest so far, with GBTC significantly eclipsing inflows from the other funds.
Despite 10 of the 11 ETF products generating a total of $447.9 million worth of inflows, it was not enough to overcome $579.6 million in outflows from Grayscale’s converted fund, according to BitMEX Research.
On Thursday, GBTC from Grayscale contributed almost $1.1 billion to trading volume, while IBIT from BlackRock and FBTC from Fidelity generated $416 million and $367 million, respectively.
In other recent news, the world’s largest asset manager, BlackRock, recently released an advertisement for its newly approved Bitcoin exchange-traded fund (ETF).
The commercial emphasizes the convenience and ease of investing in the crypto king through BlackRock’s new product.
This comes after the U.S. Securities and Exchange Commission (SEC) approved all 11 spot BTC ETFs that were under consideration, marking a groundbreaking development for the investment industry.
@iShares #IBIT ETF marks an exciting step in financial innovation, making it possible to get #bitcoin exposure in your traditional brokerage accounts, alongside stocks, bonds, and other ETFs. Why is this such a big deal? Check out our video below. pic.twitter.com/TxqwTyaRHa
— Jay Jacobs (@JayJacobsCFA) January 11, 2024
The advertisement features Jay Jacobs, BlackRock’s U.S. head of thematics and active equity ETFs.