Fidelity’s Bitcoin Fund Attracts $6.9 Billion Since Launch
Fidelity’s Wise Origin Bitcoin Fund (FBTC) has gained significant traction in the market, attracting approximately $6.9 billion since its inception on Jan. 12. This remarkable achievement places the fund as the fifth most popular exchange-traded fund (ETF) this year.
Fidelity’s Wise Origin Bitcoin Fund in Top 5 ETFs
Fidelity’s Wise Origin Bitcoin Fund (FBTC) has emerged as a strong contender in the ETF space, securing the fifth position among the most sought-after funds. With a substantial inflow of $6.9 billion since its launch on Jan. 12, the fund has garnered attention from investors and industry experts alike.
The fund’s success is further highlighted by its position as the second spot bitcoin ETF to break into the top five. BlackRock’s iShares Bitcoin Trust (IBIT) also made its mark by joining the league of major funds in February.
Top 5 ETFs by Inflows in 2024
- Vanguard’s S&P 500 ETF (VOO) - over $24 billion
- iShares Core S&P 500 ETF (IVV) - just over $15 billion
- BlackRock’s iShares Bitcoin Trust (IBIT) - $12.5 billion
- iShares Bitcoin Trust (BITO) - $11.4 billion
- Fidelity’s Wise Origin Bitcoin Fund (FBTC) - $6.9 billion
Flows into Bitcoin ETFs Slow Down
Despite the initial surge in the week, the influx of funds into the top 10 spot bitcoin ETFs witnessed a slowdown towards the end of the week. Thursday and Friday saw a combined total of $133 million and $199 million entering the market, respectively. This deceleration can be attributed to a broader market sell-off, reflecting the dynamic nature of cryptocurrency investments.
