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

Fidelity’s Wise Origin Bitcoin Fund (FBTC) emerged as the best-performing fund on May 15, with $131 million in net inflows totaling $303 million from the broader spot Bitcoin (BTC) exchange-traded fund (ETF) market, as market data showed. recorded an entry of USD. .

FBTC, in particular, has recently emerged as a leader in the spot Bitcoin ETF market, outperforming major investment products including BlackRock’s iShares Trust Fund (IBIT). More broadly, the market recorded its third consecutive day of net inflows yesterday, following days of outflows following turbulence in the crypto market.

Market data from Farside Investors shows that several ETFs, including IBIT, started the week with zero flows. On May 15, IBIT became the only Bitcoin ETF to record zero flows, marking its sixth day of zero flows in May.

Crypto.news previously reported that BlackRock’s IBIT recorded its first day of zero flows on April 24 since the launch of spot Bitcoin ETFs in January. That day, many ETFs also reported zero inflows; Fidelity’s FBTC and ARK’s ARKB were the only products to witness inflows.

Following the bullish momentum, Fidelity’s FBTC recorded consecutive outflows from April 29 to May 1 and then saw zero inflows on May 2. It has continued to deliver strong capital inflows, now outperforming other ETFs for the fifth time this month.

Other top performers include Bitwise Bitcoin ETF (BITB) and Ark 21Shares Bitcoin ETF (ARKB), with inflows of $86.3 million and $27 million, respectively. Grayscale Bitcoin Trust (GBTC) also saw total inflows of $27 million. On May 14, GBTC recorded an outflow of $50.9 million.

In early May, all spot Bitcoin ETFs witnessed inflows, but Bloomberg analyst Eric Balchunas expressed doubts that this trend will repeat. Balchunas noted that despite previous capital outflows from spot Bitcoin ETFs and Bitcoin falling below $60,000, more than 95% of investors protected their investments and refrained from selling.