Bitcoin ETFs surge 408 million in inflows led by Fidelity

Bitcoin exchange-traded funds (ETFs) experienced a significant rebound with a net inflow of $408 million, marking a notable reversal from the previous day's outflow. This surge in investment underscores the renewed confidence among investors in the cryptocurrency market. The capital influx was distributed across various ETFs, with Fidelity’s FBTC leading the way by attracting $183.96 million. Ark 21Shares’ ARKB followed with $83 million, and Bitwise’s BITB added $64.94 million. Grayscale’s GBTC and its Bitcoin Mini Trust contributed $34.56 million and $16.53 million, respectively. Invesco’s BTCO, Franklin’s EZBC, and Vaneck’s HODL also saw substantial inflows, with $9.85 million, $9.51 million, and $5.42 million, respectively. The total value traded surged to $5.22 billion, and net assets climbed to $136.68 billion.

In contrast, the ether ETF segment faced a slight setback. Despite healthy inflows into Fidelity’s FETH ($25.80 million), Bitwise’s ETHW ($8.33 million), Grayscale’s Ether Mini Trust ($8.10 million), and Vaneck’s ETHV ($2.84 million), a significant outflow of $46.89 million from Blackrock’s ETHA resulted in a net outflow of $1.82 million for the group. The total value traded for ether ETFs held firm at $832.10 million, while net assets remained strong at $10.69 billion.

This rebound in Bitcoin ETFs indicates a strong recovery in investor sentiment, despite the minor setback in the ether ETF segment. The significant inflows into Bitcoin ETFs suggest that investors are increasingly confident in the long-term prospects of Bitcoin, even as the ether market faces some volatility. The ether ETF segment, while still showing resilience, may require more stability to maintain its upward trajectory. Overall, the cryptocurrency market continues to attract substantial investment, with Bitcoin ETFs leading the charge in this latest surge.