Fidelity and Ark Lead the Way as Bitcoin ETFs Surge

CN
1 day ago

The Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21shares Bitcoin ETF (ARKB) on Thursday amassed $245 million and $187 million in daily net inflows respectively, as spot bitcoin exchange-traded funds (ETFs) saw a total of more than $475 million in net inflows, according to data platform Sosovalue.com.

Blackrock’s iShares Bitcoin Trust (IBIT) brought in $56.5 million while the Grayscale Bitcoin Mini Trust (BTC) and the Vaneck Bitcoin ETF (HODL) saw more modest net inflows of $7.2 million and $2.7 million respectively.

Grayscale’s larger fund, the Grayscale Bitcoin Trust (GBTC), and Bitwise’s Bitcoin ETF (BITB) both bled $24.2 million and $8.3 million in net daily outflows respectively, while flows for the remaining five funds were static.

The nearly half billion in total net inflows signaled an optimistic shift in sentiment after four straight days of net outflows. Ark CEO Cathy Wood explained this general optimism in a Bloomberg interview on December 19.

“Now that we are going to get more regulatory green lights, we are seeing more institutional investors focus on this new asset class,” Wood said. “Bitcoin is really the first of its kind in a new asset class and will be, we believe, the biggest opportunity of them all.”

An increasing number of firms are jumping onto the spot bitcoin ETF bandwagon. On Thursday, Strive Asset Management, co-founded by former presidential candidate Vivek Ramaswamy, filed to launch the first-ever Bitcoin Bond ETF.

“We believe that both everyday Americans and institutional investors should have a meaningful core allocation to the Bitcoin economy in their portfolios,” the company posted on X.

Total net assets for all spot bitcoin ETFs stood at $108.24 billion as of December 26.

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