After three months of trading, Fidelity’s FBTC spot Bitcoin exchange-traded fund has officially surpassed 150,000. BTC
-2.34%
From assets under management. Excluding Grayscale’s converted GBTC fund, the total amount of the nine newly created spot Bitcoin ETFs is over 520,000 BTC.
According to the fund’s latest disclosure, Fidelity’s FBTC has amassed assets of a total of 150,563 BTC, worth about $10.1 billion at current prices. Among the nine newly created ETFs, BlackRock’s IBIT currently leads with 263,937 BTC ($18.5 billion), while Ark Invest 21Shares’ ARKB is third with 43,726 BTC ($3.1 billion), according to CoinGlass data.
By comparison, assets held by Grayscale’s high-fee GBTC fund fell 48% from 619,220 BTC to 322,697 BTC over the same period. The total assets held by all spot Bitcoin ETFs in the U.S. currently stand at 842,897 BTC. This is more than 4% of the total Bitcoin supply of 21 million.
In terms of market share of Bitcoin holdings among ETFs, Grayscale’s high-fee GBTC fund has fallen to 38.6% since trading began on January 11. According to The Block’s data dashboard, BlackRock’s IBIT gained the most market share at 31.3%, followed by Fidelity’s FBTC at 17.7% and Ark Invest 21Shares’ ARKB at 5.2%.
Spot Bitcoin ETF records worst net outflow in three weeks amid sluggish trading volume
The U.S. spot Bitcoin ETF witnessed its worst day of net outflows since March 20 on Monday, with a total of $223.8 million leaving the fund and $303.3 million worth of outflows from Grayscale’s GBTC to other ETFs. overwhelmed the quiet influx of
Despite reaching the AUM milestone, Fidelity’s FBTC only saw inflows of $6.3 million yesterday. This was the fourth worst day and a small fraction of the record daily inflows of $473 million on March 7.
Bitwise’s BITB led the inflows yesterday, adding $40.3 million. However, BlackRock’s generally dominant IBIT ETF brought in inflows worth $21.3 million, the second-lowest inflow day on record. Ark Invest 21Shares’ ARKB added $9.3 million, WisdomTree’s BTCW added $2.3 million, and the remaining ETFs recorded zero flow on Monday.
As Bitcoin approaches its all-time high of $73,836, overall flows in spot Bitcoin ETFs have slowed since peaking at $1.05 billion in daily net inflows on March 12, according to The Block’s data dashboard.
However, IBIT and FBTC have now recorded 59 consecutive trading days of inflows, putting them in the all-time top 20, Bloomberg ETF analyst Eric Balchunas pointed out yesterday. “That means they are in a league of their own when it comes to active streaks or newborn streaks,” he added.
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Longest streak of daily ETF inflows. Image: Bloomberg.
Daily trading volume also declined, with Bitcoin surpassing its previous cycle high of about $69,000 for the first time since hitting a record $9.9 billion on March 5, with volume reaching $3.2 billion on Monday.
According to The Block’s price page, Bitcoin is currently trading at $70,593. The largest cryptocurrency by market capitalization is down 2% in the last 24 hours, but is up 7% over the past month and 67% year-to-date.
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