Market data reveals a notable surge in investor activity within the exchange-traded fund (ETF) landscape, with Fidelity’s Wise Origin Bitcoin Fund (FBTC) emerging as a standout performer on May 13. Despite several products experiencing stagnant flows, the broader ETF market witnessed a substantial $66 million influx.
According to insights from Farside Investors, Bitcoin (BTC) ETFs experienced a collective net inflow of $66 million following consecutive days of net outflows. Notably, Fidelity’s FBTC spearheaded this trend with a significant inflow of $38.6 million, distinguishing itself as one of the few ETFs to elude zero flows on the aforementioned date. Trailing closely behind, Bitwise Bitcoin ETF (BITB) garnered an inflow of $20.3 million, while VanEck Bitcoin Trust (HODL) rebounded with inflows after experiencing zero flows from May 7 to May 10.
This influx marks a pivotal turnaround from a two-day streak of consecutive net outflows for Bitcoin ETFs, largely triggered by capital outflows from the Grayscale Bitcoin Trust (GBTC). GBTC notably reported zero flows on the specified day, allowing other products to contribute positively to the cumulative flow for the period.
Of note, the BlackRock iShares Bitcoin Trust (IBIT) reported zero flows for the third time this month, following two consecutive days of inflows. Similarly, the Ark 21Shares Bitcoin ETF (ARKB) registered its second consecutive day of zero flows.
This uptick in investor activity follows a significant milestone on May 3, when all Bitcoin ETFs recorded inflows for the first time since January. Notably, GBTC witnessed its first inflow post a series of consecutive outflows, which had substantially depleted its Bitcoin holdings, impacting the daily performance of the broader spot Bitcoin ETF market.
Despite prevailing market uncertainties, institutional adoption remains robust. Crypto.news previously highlighted Wells Fargo’s foray into the Grayscale Bitcoin ETF, with an investment exceeding $143,000, alongside 52 shares of Bitcoin Depot on its balance sheet. The company also holds 37 ProShares Bitcoin Strategy ETF shares, offering exposure to Bitcoin futures, and 2,245 shares of the Grayscale Bitcoin Trust, which have since been converted into an ETF.
The evolving landscape of ETF investments in Bitcoin underscores a growing institutional interest in digital assets amidst ongoing market dynamics.
