In a surprising turn of events, Fidelity’s FBTC has overtaken BlackRock’s IBIT in Bitcoin ETF inflows. On Friday, July 19, Fidelity’s FBTC saw $141 million in inflows compared to BlackRock’s $116 million.
Fidelity’s FBTC is nearing a significant milestone, with its total assets under management (AUM) approaching $10 billion, currently standing at $9.962 billion. This surge in inflows underscores investor confidence in Fidelity’s Bitcoin ETF.
BlackRock’s IBIT also recorded notable activity, with $1.7 billion in trading volume on Friday, compared to Fidelity’s $600 million. Over the past ten days, IBIT has accumulated over $1.3 billion in inflows.
The overall Bitcoin ETF market showed strong performance, with Grayscale’s GBTC and Bitwise’s BITB also registering significant inflows. Bitwise BITB hit an important milestone with total AUM exceeding $2.5 billion and a unique feature of donating 10% of gross profits to Bitcoin developers.
These developments have bolstered Bitcoin prices, pushing them past $67,000. The high trading volumes reflect growing investor enthusiasm and confidence in Bitcoin ETFs.
Fidelity’s ascendancy and the broader inflows highlight the increasing institutional interest in Bitcoin, signaling its strategic importance in the financial markets.
