As a researcher with a background in the crypto market, I’ve closely monitored the developments in the Bitcoin Exchange-Traded Fund (ETF) market. The recent performance of Fidelity’s Wise Origin Bitcoin Fund (FBTC) has been particularly noteworthy.
On May 15, Fidelity’s Wise Origin Bitcoin Fund (FBTC) stood out as the leading gainer, attracting investments worth $131 million. Market figures indicate a collective influx of approximately $303 million into the broader Bitcoin (BTC) exchange-traded fund (ETF) market.
Significantly, the FBTC Bitcoin ETF has gained prominence in the competitive Bitcoin ETF sector, outpacing established investment vehicles such as BlackRock’s iShares Trust Fund (IBIT). The overall investment landscape witnessed three consecutive days of net inflows on the previous day, after a series of outflows triggered by crypto market instability.
According to the latest market figures from Farside Investors, several Exchange-Traded Funds (ETFs) initiated the week without any inflow or outflow, with IBIT being one of them. Notably, IBIT was the sole Bitcoin ETF that reported no activity on May 15th, making it the sixth consecutive day in May with no flows for this particular fund.
Previously, Crypto.news noted that BlackRock’s IBIT experienced no transactions on April 24th, which marked the first day of zero flows for this fund since the introduction of spot Bitcoin ETFs in January. On the same day, several other ETFs reported no new investments, with Fidelity’s FBTC and ARK’s ARKB being the exceptions as they attracted inflows.
As a crypto investor, I’ve noticed Fidelity’s Bitcoin Trust (FBTC) experiencing consistent inflows since May 2, following several days of outflows from April 29 to May 1. Surprisingly, FBTC has managed to outperform other ETFs for the fifth time this month.
Top performing ETFs in terms of recent investments are the Bitwise Bitcoin ETF (BITB), which attracted $86.3 million, and the Ark 21Shares Bitcoin ETF (ARKB) with $27 million. The Grayscale Bitcoin Trust (GBTC) reported inflows worth $27 million as well, except on May 14 when it experienced an outflow of $50.9 million.
As a researcher, I’ve observed an intriguing trend in the Bitcoin ETF market during May. Specifically, all spot Bitcoin ETFs reported inflows. However, Bloomberg analyst Eric Balchunas raised some doubts about this pattern continuing. Balchunas pointed out that despite previous capital outflows from these ETFs and Bitcoin’s dip below $60,000, over 95% of investors remained committed to their investments, choosing not to sell.
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2024-05-16 11:30