Spot BTC ETFs recorded $303m in inflows amid bullish momentum

Main Points related to Bitcoin, web3, Ethereum, and Cryptocurrency:

  • Fidelity’s Wise Origin Bitcoin Fund (FBTC) leads in the spot Bitcoin (BTC) ETF market, with a significant inflow of $131 million on May 15.
  • BlackRock’s iShares Trust Fund (IBIT) experienced zero flows on May 15, marking its sixth day of zero flows in May.
  • Fidelity’s FBTC has outperformed other ETFs for the fifth time in May, with consistent capital inflows.
  • Other top performers include Bitwise Bitcoin ETF (BITB) and Ark 21Shares Bitcoin ETF (ARKB), along with Grayscale Bitcoin Trust (GBTC).
  • In May, all spot Bitcoin ETFs witnessed inflows, despite earlier capital outflows and Bitcoin’s price fluctuations.

Fidelity’s Dominance in the Spot Bitcoin ETF Market

Fidelity’s Wise Origin Bitcoin Fund (FBTC) emerged as the top performer in the spot Bitcoin ETF market, surpassing major investment products like BlackRock’s iShares Trust Fund (IBIT). FBTC recorded a substantial inflow of $131 million on May 15, solidifying its position as a market leader.

BlackRock’s IBIT Struggles with Zero Flows

Market data from Farside Investors indicated that BlackRock’s iShares Trust Fund (IBIT) faced challenges with zero flows on May 15, marking its sixth day of zero flows in May. Despite the overall market turbulence, IBIT continues to struggle with inflows compared to competitors like Fidelity’s FBTC.

Investor Confidence and Market Dynamics

Despite earlier capital outflows and Bitcoin’s price fluctuations, all spot Bitcoin ETFs witnessed inflows in May, indicating investor confidence in the market. Bloomberg analyst Eric Balchunas expressed skepticism about the sustainability of this trend but noted that the majority of investors held onto their investments despite market volatility.

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